Detroit, MI and Anderson, IN -- Bright Automotive and General Motors Co. announced Tuesday they have agreed to pursue a strategic relationship and that GM has provided funding to the Indiana automaker, the first funding action by the newly formed General Motors Ventures LLC.

The funding will help accelerate Bright's production of the IDEA, a revolutionary plug-in hybrid commercial vehicle.

"This relationship is an important step forward for Bright, and a strong endorsement of our highly experienced automotive team and our incredible vehicle," said Reuben Munger, Bright Automotive Chairman and CEO. "With this deal, Bright gets financial support that puts us on the fast track toward mass production of the IDEA. And perhaps just as importantly, we gain a strategic partner that is a world leader in electrification."

The companies signed a memorandum of understanding in July. GM Ventures provided funding to Bright this week, and the two companies intend to complete the formal agreements later this year. Upon completion of the agreements and other terms, General Motors Ventures would have a minority stake in Bright Automotive and Bright would have access to GM technologies, and advanced engine and transmission systems, for its vehicle.

"Funding early-stage start-up companies is a new way of doing business at GM to accelerate the introduction of innovative technology to support our core automotive business and give us a competitive advantage," said Jon Lauckner, president of GM Ventures. "In this case, our funding of Bright Automotive will accelerate the introduction of advanced propulsion and light-weight technologies in the commercial vehicle market."

"We talked with several leading automakers, but GM clearly had the right vision, the most capable technology, and the closest alignment with our business approach," said Michael Brylawski, Bright Automotive executive vice president. "We are thrilled to work with GM to create American jobs, stimulate technology development, and build an innovative American vehicle that will help reduce oil dependence and cut costs for businesses."

In developing the IDEA, Bright started with a clean sheet of paper, listened to customers, and took a novel approach to product development that focused on light-weighting, aerodynamics and a highly efficient drivetrain. The result is a multipurpose vehicle for business fleets - the first designed to be highly efficient and provide a clear economic benefit.

The IDEA delivers a positive total cost of ownership to fleet customers by providing significantly greater fuel efficiency than current fleet vehicles in its class. The IDEA operates in electric mode for 40 miles before switching to an estimated 36-mpg hybrid mode for 100+ mpg potential based on daily driving behavior.

Funding through GM Ventures will allow Bright to begin ramping up the development of the production program for the IDEA in the third quarter of 2010. Bright continues to seek a low-interest loan through the Department of Energy's ATVM program. Financial terms were not disclosed.

• eStar™, the First Purpose-Built All-Electric Truck Established in Several Key Markets
• Environmentally Focused Fleets Take Delivery
• Sales, Service and Support Network Continues to Grow
• Leasing Opportunities Provide Fleets with Flexible Financing Options

WARRENVILLE, ILL. - (Aug. 5, 2010) - Last August, President Obama traveled to Navistar's manufacturing facility in Wakarusa, Ind. to announce a $39.2 million grant funded by the American Recovery and Reinvestment Act and administered by the U.S. Department of Energy to develop and deploy electric trucks. One year later, Navistar's eStar™ all-electric truck is coming off the production line and making its way into some of the nation's most environmentally focused fleets.

All-Electric Buzz

Following a production kick-off at the Wakarusa plant in May and introductory launch events in Portland, Ore., and Sacramento, Calif., in May and June, the eStar all-electric truck is generating significant interest in the marketplace.

"In just the last two months, we've seen a number of customers-large and small-express interest in the eStar all-electric truck," said Mark Aubry, eStar's vice president, sales and marketing. "We've delivered eStar trucks to FedEx and Pacific Gas & Electric Company, and with vehicle orders in the pipeline, we continue to work toward our goal of building 400 units this year."

Ah. . . in our personal lives and in our businesses, we dream of the luxury and everything taken care of, plenty of time away, profits off the chart, cash flow like a rapid river--in other words, ease. Smooth and easy, that's what we want. And what do we get instead of that? We get challenges, cash flow issues, accounting tantrums, customer fatigue, a motley crew, and. . . well, that's just some of it, isn't it? Certainly not all at once, or we would quit and say heck with it. Yet, just enough to keep us off balance and hungry for our day of ease somewhere out there.

I get it and I can totally relate to it and even admit, that yes, I do look forward to the ease sometime in the future--sooner than later I hope. At the same time, I have been learning a valuable lesson. Though I've been through many challenges in my life, financially and others, I am only now recognizing the value of, as Henry Ford says, "scratching around for what it gets."