General Motors Ventures Invests in Sunlogics for Electric Car Production Infrastructure

General Motors Ventures, the venture capital arm of General Motors, has partnered with Sunlogics, a Kelowna-based solar power commercial installations company, to develop the automaker's electric car production infrastructure. The five-year contract, valued at $7.5 million, marks a significant step towards the development of sustainable energy solutions for the automotive industry. As part of the agreement, Sunlogics will utilize a portion of the investment to establish its corporate headquarters in Detroit, citing the city's vast manufacturing base, skilled labor pool, and existing relationships with key players in the electric vehicle industry.

Key Takeaways:

• General Motors Ventures has awarded a $7.5 million contract to Sunlogics to develop the automaker's electric car production infrastructure.
• The contract is expected to drive the development of sustainable energy solutions for the automotive industry.
• Sunlogics will use a portion of the investment to establish its corporate headquarters in Detroit.
• The city's manufacturing base, skilled labor pool, and existing relationships with key players in the electric vehicle industry make it an ideal location for the company's growth.
• Sunlogics is hitting a steep growth curve and is expected to expand its operations globally.
• Part of the investment will also be used to enhance the company's relationship with Energizer, enabling it to participate in the infrastructure for electric vehicles worldwide.
• The partnership between General Motors Ventures and Sunlogics aims to address the challenges associated with the development of sustainable energy solutions for the automotive industry.

Statistics:

• $7.5 million: value of the contract awarded to Sunlogics by General Motors Ventures.
• 5 years: duration of the contract between General Motors Ventures and Sunlogics.
• 100%: portion of the investment that will be used to establish Sunlogics' corporate headquarters in Detroit.
• 2011: year General Motors Ventures partnered with Sunlogics.

Sources:

• Eurlex (no date) "General Motors Ventures Invests in Sunlogics for Electric Car Production Infrastructure." Contify.com.