WASHINGTON — It sounds like a bright idea.
Anderson, Ind.-based startup Bright Automotive on Tuesday unveiled the IDEA, a 100-mpg plug-in hybrid electric van that it is looking to sell to fleet customers such as businesses and government agencies.
The automaker’s goal is to produce 50,000 vehicles a year starting in 2013. The ultimate outcome, it hopes, will be millions of dollars in savings in gasoline and drastically reduced emissions for fleet users.
“We are ready to provide the necessary automotive leadership our nation is calling for,” Chief Executive John Waters said in a conference call with reporters.
Waters, who developed the battery pack for General Motors Corp.’s first electric vehicle, the EV1, unveiled the IDEA on Capitol Hill in Washington. He said the company has applied for a $450 million loan from a Department of Energy program designed to help automakers develop fuel-efficient technology.
Waters hopes to begin production of the vehicle by 2012 and begin supplying to fleet customers the following year. He said the company is targeting fleet, rather than retail, customers, because fleet customers buy vehicles “on spreadsheets” in large quantities, which helps bring down the cost and eliminates the emotion present in car-buying.
“We feel there would be a rapid adaptation and adoption of vehicles in the fleet sector,” Waters said. He declined to offer an estimated price of the vehicle.
Waters said the IDEA will run on battery power alone for 30 miles. At that point, it will function like a conventional hybrid, drawing on a combination of gasoline and an electric battery to generate power. He said the 100 mpg figure is an estimate that assumes a fleet driver averages 50 miles per day.
Bright Automotive is the latest entrant in a growing field of high-tech automotive startups, many of which have placed their bets on pricey, high-end vehicles. Tesla Motors, based in Silicon Valley, sells the $109,000 Roadster electric car and recently unveiled a much cheaper sedan, the Model S. EV Innovations unveiled two new electric sports cars at the New York International Auto Show earlier this month.
Production to start in 2012
WASHINGTON — It sounds like a bright idea.
Marketing company tops advertising awards
MillerWhite Marketing has received 14 awards, five gold, in the 11th annual Service Industry Advertising Awards (SIAA) for marketing solutions created for 12 clients.
Health care Marketplace navigators to host event
Residents interested in signing up for Marketplace insurance, finding out more about options or meeting an in-person with Navigator, there will be an enrollment and information event from 9 a.m. to 3 p.m. on Wednesday at 1436 Locust St. in Terre Haute. There will be follow up appointments on March 26.
Heating service moratorium ends March 17
As the end of the winter heating season approaches, Vectren Energy Delivery (Vectren) reminds customers that the regulatory moratorium, which prevents utilities from disconnecting customers who meet low-income guidelines and have received federal and state utility heating assistance, will expire on Monday.
- BUSINESS BRIEFS: March 16, 2013
First Farmers Financial Corp. declares dividend
First Farmers Financial Corp. (OTCQB:FFMR) announced Tuesday that the Board of Directors approved a quarterly cash dividend for the first quarter of 2014 of $0.23 per share, payable on April 15 to shareholders of record as of March 31.
- ON THE MOVE: March 16, 2014
SOCIAL SECURITY: On Internet, beware the Ides of March
“Beware the Ides of March,” said the soothsayer to Caesar in William Shakespeare’s play, “Julius Caesar.”
EYE ON THE PIE: Indy urban transit: What about the rest of Indiana?
Trust those witty folks in the Indiana General Assembly to keep confounding us simple Hoosiers.
Last week, I praised the passage of HB 1020, which called for a study of economic incentives. I made the unforgivable mistake of working off a press release.
Social Security: Changes on the horizon for Social Security
A new year is a time for change. People across the world make resolutions and set goals to better themselves and the world around them. Whether you want to shed a few pounds, secure your finances for retirement, devote more time to charity or go on a vacation you’ve always dreamed about, chances are you have some ideas for a fresh start in 2014.
Business Cents: So does your advertising plan pass the sniff test?
Having been a business consultant for more than a decade now, there are some things that never fail to catch my attention, one of which is negative advertising.
Chamber of Commerce: Time to give a nod to local businesses
Are you familiar with a business deserving of recognition for achievements in 2013? Has it excelled in terms of business growth, implementation of green policies, creating a healthy workplace for its employees or overall business success? Maybe you are the owner of a company that meets these criteria? If so, consider completing a nomination for the Terre Haute Chamber of Commerce’s 2013 Business Recognition Award.
On the move: March 9, 2014
Stacey Joseph, broker associate with Remax Real Estate Associates in Terre Haute, was recently recognized by Remax of Indiana at the 2013 Awards Celebration at the JW Marriott in Indianapolis.
- Newsmakers: March 9, 2014
Milestone: March 9, 2014
On Wednesday Vermillion County Sheriff’s Department employee Robert (Pete) Jackson was recognized for 30 years of service.
Refrigerator recycling incentive increased to $50
Duke Energy customers who recycle outdated refrigerators or freezers will now receive a $50 incentive through the Duke Energy appliance recycling program.
Next Lunch with a Lawyer educational event set
Lunch with a Lawyer will feature attorney John Klotz from 11:30 a.m. to 1 p.m. March 17 at Wabash Senior Activity Center, 300 S. Fifth St.
Restaurant cuts ribbon for opening in Marshall
Country Kitchen celebrated its grand opening Friday with a Marshall Chamber of Commerce ribbon-cutting ceremony at the restaurant’s location at 710 Archer Ave., in Marshall, Ill.
Indiana startup launches social music player at SXSW
Caktus Music Inc. has announced the release of Caktus, the first true social music player, for iPhone.
Free tax preparation for low-income residents
Stadler & Company Tax Service is offering free tax preparation March 20-21 to low-income individuals and families in Wabash Valley.
Greater Clinton Chamber to meet at Dairy Queen
The Greater Clinton Chamber’s monthly luncheon is scheduled for noon Tuesday at Dairy Queen in Clinton.
US employers add 175K jobs despite harsh weather
U.S. employers stepped up hiring in February despite a blast of harsh winter weather, renewing hopes that the economy could accelerate this year.
Meet and greet March 7 at Tater & Joe’s Coffee Grounds
An informal meet and greet at the new Tater & Joe’s Coffee Grounds ,423 Wabash Ave., begins at 6 p.m. on Friday.
Sony DADC halting local distribution operation, cutting 34 jobs
Sony DADC, a major electronics and digital equipment maker, confirmed today it is closing a distribution operation at its Terre Haute plant.
Advisers make students apply theory to practice
Master’s students in a strategic management class at Indiana State University received professional advice and insights from local companies during a semester-long project.
Social Security: In Iditarod and retirement, prep is key
The Iditarod Trail Sled Dog Race, which started Saturday in Alaska, is one of the harshest, most challenging races known to man — or dog. Mushers embark on a nine- to 15-day race from Anchorage to Nome.
Contestants bear sub-zero temperatures with gale-force winds that can cause wind chills as low as negative 100 degrees Fahrenheit. It takes endurance, preparation and careful planning to make it from start to finish. The same can be said for your race toward retirement and Social Security.
- On the move: March 2, 2014
- Newsmakers: March 2, 2014
Biz prof outlines management practices
A strong dollar backed by the gold standard and perceived to be “as good as gold” has boosted America’s credibility with trading partners worldwide and facilitated rich exchanges of goods and services that allow the U.S. economy to grow and prosper.
FIO director to be keynote at D.C. summit
On the heels of his report to Congress proposing changes in insurance regulation, Michael McRaith, director of the Federal Insurance Office, will be the keynote speaker for Networks Financial Institute’s 10th anniversary Insurance Public Policy Summit.
Produce program taking applications
Melon Acres, north of Vincennes on U.S. 41, is preparing for another season of providing families with access to fresh, locally grown fruits and vegetables. The Oaktown farm’s Community Supported Agriculture program will begin the week of May 18. The 18-week season will run through September and shareholder registrations are now being accepted.
- More Business Headlines
- Marketing company tops advertising awards