Plug-In hybrid a Bright IDEA

WASHINGTON, D.C. - Bright Automotive, Inc. announced that its first vehicle — a plug-in hybrid electric vehicle (PHEV) that will achieve 100 mpg for an average customer — will be called the IDEA. A concept version of the IDEA will be shown to the public for the first time on April 21 on Capitol Hill in Washington, DC.

"We named our first vehicle the IDEA because of the role it will play in helping revolutionize American transportation and moving the country toward a more secure and sustainable energy future," said John Waters, CEO and president of Bright Automotive. "We know it is possible to achieve dramatic, breakthrough fuel efficiency and deliver tremendous customer value. This is the compelling idea that drives our company and it is fully captured in our first vehicle."

Bright Automotive will begin high volume production by the end of 2012 - with an annual run rate of 50,000 units. To produce its vehicle, the company plans to create over 5,000 jobs by 2013.

Waters continued, "We created the IDEA by starting with a clean sheet, listening to customer needs, and using breakthrough technologies and materials. The IDEA will deliver superior fuel-efficient performance and a lower cost of ownership than competing traditionally powered vehicles. At the same time, it will help to re-invigorate the American auto industry and create thousands of new 'green collar' jobs here in the U.S."

To achieve groundbreaking fuel efficiency, Bright Automotive is maximizing platform efficiency, by incorporating lightweight materials, advanced aerodynamics and low-rolling resistance tires to use less combined energy. On a full charge, the IDEA will operate in all-electric mode for the first 30 miles before switching to hybrid mode for a full range of 400 miles. For a typical drive of 50 miles, the vehicle consumes 1/2 gallon of gasoline - equivalent to 100 mpg fuel efficiency.

Bright Automotive was launched out of the Rocky Mountain Institute, where it had the great benefit of visionary leadership from partners including Alcoa, Duke Energy, Google.org, Johnson Controls, and the Turner Foundation.