Mexican Media Brands
Japan EV Maker Raises Funds to Expand Exports
GLM Inc., a Kyoto-based custom carmaker, has raised 1.7 billion yen ($14 million) to expand sales of an all-electric sports car it has developed, Bloomberg News reports.
#hybrid
Share
GLM Inc., a Kyoto-based custom carmaker, has raised 1.7 billion yen ($14 million) to expand sales of an all-electric sports car it has developed, Bloomberg News reports.
The five-year-old company began selling its 8 million-yen ($66,800) Tommykaira ZZ two-seater in Japan a year ago. GLM says it will use the new funding to promote an updated version of the electric car and export left-hand-drive variants to Asia, Europe and the Middle East.
Sources tell Bloomberg at least 24 investors, including Saudi Arabia's Riyadh Valley Co. and the University of Tokyo Edge Capital Co., were part of the latest round of funding. GLM says it raised 400 million yen ($3 million) in 2013 from a first round of funding.
RELATED CONTENT
-
FCA Opens the Door to The Future
FCA introduced a high-tech concept vehicle today, the Chrysler Portal, at the event previously known as the “Consumer Electronics Show,” now simply CES.
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.