GM Invests In Bright IDEA
GM Ventures, the new VC arm of General Motors, is investing $5 million in Bright Automotive, based in Anderson, IN, according to a Bright news release (PDF) and reports in The Wall Street Journal and Reuters. Bright develops plug-in hybrid electric vehicles. This investment will speed along development of a commercial vehicle called the Bright IDEA. GM Ventures launched in June with an initial treasure chest of $100 million.