In midst of auto crisis, Al Gore backs a new car company in Louisiana
Filed under: Company News, Investing
In the midst of the worst automotive industry crisis in a generation, Louisiana Gov. Bobby Jindal is announcing today that a new car company will build an almost one million square-foot plant in Monroe, in the northern part of the state. The company, identity to be revealed, is rumored to be planning to produce high-mileage, gas-powered automobiles.
Funding will come at least in part from venture capital company Kleiner Perkins Caufield & Byers, and readers might recognize another name that recently joined the company as a partner: Al Gore. KPCB, which has formed an alliance with Gore's Generation Investment Management, specializes in green and cutting-edge tech investments. Looking at the partners, I would expect that the tech behind this new company must be a breakthrough; otherwise, why would it back a car that does not use electricity, fuel cells, or a hybrid system?
KPCB is already in the car business as a major investor in Fisker Automobile. Fisker is preparing to bring the Karma to market, a top-end hybrid sports car that could get up to 100 mpg running on a hybrid system. The car will retail for $87,900 and top out at 95 mph -- not very spirited for someone who feels the need for speed, but perfect for someone who wants to send the message that they are green, rich and mellow.
Local officials expect the new Louisiana plant to produce up to 1,500 jobs averaging $40,000 per. One official suggested it could have a $20 billion impact on the local economy over the next 15 years.
Louisiana is said to have tapped a considerable portion of its economic development war chest to lure the new company, while the local U.S. Rep Rodney Alexander is busy in Washington pursuing federal funds. Construction of the facility is expected to take at least 15 months.
Update: Gov. Jindal has announced that the car company is V-Vehicle Company (VVC), headquartered in San Diego.
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Reader Comments (Page 1 of 13)
6-17-2009 @ 11:37AM
Dotty W.Hack said...
Please go to Korea to seek release of the two reporters soon.
Reply
6-17-2009 @ 11:36AM
Steve said...
Oh yeah, wonderful. Mr. Green Jeans just wants to cater to the rich, obviously.
I wouldn't buy anything that he has anything to do with. Hypocritical jackass...
Reply
6-18-2009 @ 7:17AM
barbyk said...
Another Brilliant move bt the current american leadership - Gore needs to retire
a sad man who like obama craves constant media attention regardless of the impact of bad decisions
6-18-2009 @ 8:30AM
George said...
Exactly right. Did you know that on his watch, the Tenn. River turned to sludge? Who would trust anything he says or does? The man's obviously postal.
6-18-2009 @ 9:13AM
Iwonder said...
My thoughts EXACTLY....the big old rich as heck hypocrite
6-17-2009 @ 11:36AM
r Hammitt said...
All we need is another country moving in,just proves Americans are stupid because no one is smart enough to start a American owned plant.Don't say much for our schools either
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6-17-2009 @ 9:56PM
John said...
What country is that? Louisiana? California?
6-18-2009 @ 11:31AM
Bill said...
V-Vehicle Company is based in San Diego, California.
VVC is not a foreign car company.
Next time read the article before you complain about the content.
6-17-2009 @ 11:39AM
Dave said...
If Al Gore has anything to do with anything, I will NEVER buy their CRAP !!!!! Al Gore is a JOKE ! I will never give that moron any of my money! He has become rich enough on dummys drinking his kool-aid! Get over him America ! He is so wrong for this country !
Reply
6-17-2009 @ 3:20PM
wynn said...
Ok Dave. Let's see. Gore is an ex senator, a former Vice President, and very wealthy. You spent your days flipping hamburgers or delivering pizzas. Who's the moron?
6-17-2009 @ 5:52PM
Al said...
Still crying about the election huh?GET OVER IT!
6-17-2009 @ 7:04PM
Alex said...
Wyn- You are the moron, Even if dave was a burger flipper at least he would have a fu**ing job. The world needs burger flippers, not everyone can be a V.P. of exec. I am sure you life has amounted for alot, you know spending your time sniffing Al Gore's A$$ and all.
6-17-2009 @ 7:10PM
David said...
Oh, yeah ... sssssoooo wrong! I suppose you are for the same sort of gas guzzling behemoths that just put GM and Chrysler under? YOU are the moron, moron! I doubt you have ever had a remotely creative thought that would help the planet AND the economy ... Al Gore has more intelligence and common sense in his little finger than all you trailer trash, John McCain voting idiots have in your whole Bud drinking, fast food eating, obese bodies!
6-18-2009 @ 9:51AM
Jake said...
Wynn, i would rather flip hamburgers the rest of my life than lie and cheat and run a scam on the American people as did that piece of crap called the energy wasting Al Gore. Polluter in chief with his polluting mine runoff. Not to mention the scam he pulled with that blatant lie called "the convenient untruth". Not to mention his lies and cheating he did while in the vice presidency.
6-18-2009 @ 12:39PM
James said...
Wynn,
. . . and Hitler was Chancellor of Germany, Nero was Emperor of Rome, Saddam Hussein was President and even dictator of Iraq and lived in lush palaces . . .
So what's your point? I'd rather be flipping burgers than destroying civilization.
6-17-2009 @ 11:59AM
bcb said...
better to cater to the rich than the ignorant.
Reply
6-17-2009 @ 12:02PM
Steve said...
Gore is catering to both...you have to be pretty ignorant to buy into his crap.
6-18-2009 @ 6:59AM
Jim said...
In al gores case hes both
6-17-2009 @ 12:02PM
bob anthony said...
Enough with the "green" movement-it has become a business in which the head blowhard is now making millions of dollars-none of this scares you?
Remember when they told us to beware of the military industrial complex-this is the same thing...
Reply
6-17-2009 @ 12:17PM
Jim said...
No wonder Gore is pushing his global warming hoax. A recent estimate in the WSJ says Gore stands to make in excess of $100 million on his global warming investments.
Remember this is the same person who claimed he invented the internet and cried wolf about how would all fry because of the ozone hole.
Reply