Silicon Valley driven by idea of fast electric cars
By Terence Chea
ASSOCIATED PRESS
June 26, 2006
SAN CARLOS – Like many Silicon Valley engineers, Martin Eberhard loves cars, especially fast ones. But the self-described “closet gearhead” didn't feel comfortable buying a hot rod that guzzled gas from overseas.
So three years ago, Eberhard and friend Marc Tarpenning launched Tesla Motors Inc. Their goal: to design a sports car that would go as fast as a Ferrari or Porsche, but run on electricity.
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Silicon Valley thinks it can do what Detroit could not – create a thriving business selling electric cars. In the 1990s, General Motors and other automakers spent billions to develop battery-powered vehicles, but they flopped because they couldn't travel more than 100 miles before being recharged.
By tapping the Bay Area's engineering expertise and culture of innovation, a cluster of entrepreneurs, engineers and venture capitalists here are racing to bring their electric cars to market. Unlike Detroit and Japanese automakers, they're working on high-performance sports cars for wealthy car enthusiasts.
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