Fallbrook Pulls IPO, Still Revving for China
Summary
The blockbuster IPO by Tesla Motors (s TSLA) – along with the launch of the Chevy Volt and the Nissan LEAF – have revved up the public profile of electric cars in the past year. The company had developed a transmission system for bicycles and was aiming to do the same for cars, small wind turbines and other markets when it filed to go public in February last year. As Josie wrote for GigaOM Pro (subscription required), the large amount of first time car buyers can lower the barrier to adoption of alternative vehicles. Silicon Valley-based Better Place last week announced a deal with China’s Southern Power Grid, the country’s second largest and the world’s eighth-largest utility, to try out both battery swapping and old-fashioned plug-in charging in a citywide network by the year’s end. Likewise, Indiana-based Ener1 formed a joint venture with one of China’s largest auto parts supplier, Wanxiang, last year to produce lithium-ion batteries for cars.
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