Venture Vehicles gets $6 Million in Venture Capital
Venture Vehicles, the company working on the articulated three wheeled VentureOne vehicle, has just taken a big step toward financial sustainability for itself. They've received $6 million in Series A venture capital funding from NGEN Partners. Like Zap and Aptera Motors, Venture is taking the three wheeler route because it allows them to avoid the costly and time consuming process and engineering involved with automotive safety compliance.
Anything with less than four wheels is considered a motorcycle and doesn't have to be crash tested or fitted with systems like airbags. All of that saves a lot of money and weight which is critical for electrically driven vehicles to maximize range.
[Source: Dow Jones]
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