Does Terry McAuliffe's Greentech Automotive really stand a chance of competing in a space already crowded with established auto giants, or will it fizzle out before selling a single car?
Russia’s second richest man, billionaire Mikhail D. Prokhorov, has joined an exclusive club of wealthy movers and shakers who have invested in the green car movement. Prokhorov, who is the major owner of the New Jersey Nets basketball team, unveiled the first Russian hybrid vehicle, the Yo, this week in Moscow. Looking somewhat like large toy cars, the three prototypes shown—a two-door car, a minivan and a small cargo van—are touted as being the world’s first natural gas hybrid electric vehicles.
As concerns over global warming, high gas prices, and dependence on foreign oil snowballed in the last few years, movers and shakers around the country decided to get in on the green car revolution. We take a look at six megamillionaires, who have each taken major stakes in a green transportation technology. But as these men surely know—or are about to learn—most small green car and alternative fuel companies face an uphill battle. Which of these wealthy tech investors do you think will be successful?
The best investment you can make in the hybrid future is to buy a hybrid vehicle. Some savvy investors are taking it a step further, looking at companies which will help the U.S. make an essential transition toward greater energy independence.
