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Khosla Ventures Invests In EcoMotors To Deliver Efficient Diesel Engines
Menlo Park CA (SPX) Jan 14, 2008 Khosla Ventures announced an investment in EcoMotors, an automotive company with a focus on fuel efficiency, low emissions and cost effective solutions for developing markets. EcoMotors has developed an innovative diesel engine that is aiming at delivering 100 miles per gallon (mpg) by 2011. This investment expands the venture capital firm's focus on vehicle efficiency. Coinciding with this announcement, Vinod Khosla will address North American International Auto Show in Detroit on Sunday, January 13, 2008. Mr. Khosla will share with Detroit his vision for the automotive industry, supported by anecdotes and developments from the innovative work coming out of the portfolio companies that Khosla Ventures has invested in. There is substantial market opportunity for EcoMotors' engine, as evidenced by the following industry demands and environmental considerations: New CAFE Standards: the newly enacted law will require all manufacturers to improve fuel economy by 40% beginning in 2011. The focus of EcoMotors will be to address the challenges faced by the light truck vehicles in meeting the CAFE standards More Stringent Diesel Emission Standards: the 2010 EPA standard is forcing all diesel manufacturers to invest heavily in new emission technology. EcoMotors' low carbon footprint will enable vehicle to pass the EPA tests with minimum post treatment investments The Rising Demand for Cars in Developing Countries: the growth of vehicle demand in China, India, and other developing countries will outpace the rest of the world. And large part of these vehicle fleets will be diesel engines. EcoMotors plans to offer a range of cost effective diesel engines from 15 HP up to 325 HP (or 625 HP with a dual module system) to address the various needs of developing markets including scooters, cars, trucks, marine and diesel power generation applications. $100 per Barrel Oil: with the continued rise in worldwide demand for oil, high oil prices will be the norm in the future. EcoMotors has a laser focus on fuel efficiency. Flex Fuel Vehicles: the requirement to support multiple fuel types, such as diesel, gas, or ethanol (E85) is an important one. EcoMotors engines are designed to be adaptable to different fuel types Hybrid Vehicles: we believe that serial plug-in hybrids will be the real solution as opposed to the parallel hybrid solutions on the market today. EcoMotors will have serial plug-in hybrid adaptations of its highly efficient engine for diesel, gas or ethanol. The Need for Better Engines for the Truck Market: trucks account for over 55% of all new vehicle sales in the U.S. Diesel engines from EcoMotors will be preferred for their low-end torque, fuel efficiency, and durability. "We're focused on powering the automotive fleet of tomorrow with fuel efficient building blocks," said Vinod Khosla, Founder and Managing Partner of Khosla Ventures. "This new investment in efficient diesel engines from EcoMotors complements our firm's other investments in the engine space. These companies are at the forefront of forming a serial plug-in hybrid platform with our multiple investments in new battery technology," continued Khosla. "The EcoMotors founders are experienced with multiple generations of engine design at top automotive companies. This experience will apply towards the design of the 100 mpg car." The EcoMotors team has been designing engines for the past forty years, since 1967. The team's specific accomplishments include developing the first high speed diesel-engines for all Volkswagens and Audis, the first 6 cylinder diesels for Volvo, the first 6-cylinder Inline-Compact-V (VR) engine in E/W installation in a compact car, first used in the Volkswagen Golf and the VR6-engine also used by Daimler-Benz. Additionally the EcoMotors team was involved in: - Converting the "Boxer motor" from air- to water-cooling - A total redesign of the Ford Mustang - The creation and introduction of the Ford GT - Building the SVT family of specialty performance vehicles including the Mustang Cobra, F150 Lightning, Contour, and Focus Many other innovations in both commercial and military engine applications "We have searched long and hard for the best commercial partner to take our dreams to reality," said Peter Hofbauer, EcoMotors CEO. "And Khosla Ventures is the best possible partner, with its focus on a green planet, a broad and deep portfolio across multiple related technologies, great connections in the industry and a well proven methodology of creating large companies. We are excited to deliver on the vision of the 100mpg car by 2011." Related Links Khosla Ventures Car Technology at SpaceMart.com
Hybrids to account for 10 percent of Honda sales: chief
Detroit, Michigan (AFP) Jan 13, 2008Hybrid vehicles will account for 10 percent of Honda Motor's global sales by 2010 as the company focuses on increasing fuel efficiency and reducing carbon monoxide emissions, the Japanese automaker's chief said Sunday. |
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