{"id":5285,"date":"2021-01-10T00:50:52","date_gmt":"2021-01-10T00:50:52","guid":{"rendered":"https:\/\/archive.abuelsamid.com\/?p=5285"},"modified":"2021-01-10T18:28:50","modified_gmt":"2021-01-10T18:28:50","slug":"phoenix-motorcars-gets-a-refill-for-the-petty-cash-box","status":"publish","type":"post","link":"https:\/\/archive.abuelsamid.com\/?p=5285","title":{"rendered":"Phoenix Motorcars gets a refill for the petty cash box"},"content":{"rendered":"<p>There&#x27;s some interesting financial activity going these days in the <a href=\"https:\/\/www.autoblog.com\/electric\/\">electric vehicle<\/a> realm and it wouldn&#x27;t be surprising to see some consolidation happen soon. In the past year Phoenix Motorcars and Zap have trailed only the <a href=\"https:\/\/www.autoblog.com\/tesla\/roadster\/\">Tesla Roadster<\/a> and <a href=\"https:\/\/www.autoblog.com\/chevrolet\/volt\/\">Chevy Volt<\/a> in attention for battery-propelled vehicles. Unfortunately for both companies (and <a href=\"https:\/\/www.autoblog.com\/tesla\/\">Tesla<\/a>) revenues have not been in proportion to press coverage and as we all know building a complete vehicle is not a trivial challenge.<\/p>\n<p>Phoenix has just topped up their bank account  with $40 million  courtesy of Dubai investor Al Yousuf. Only days earlier, Al Yousuf invested a similar quantity in Altairnano Technologies, the battery supplier to Phoenix and prior to that injected $5 million in Zap. We&#x27;ll be watching the action here, but it&#x27;s interesting to see a Middle Eastern Investor buying up chunks of electric vehicle and battery startups. <strong><\/p>\n<p> Update: <\/strong>I misread the original source. The amount invested by Al Yousuf in Phoenix has not been disclosed yet. The investment is in the form of convertible debt .<\/p>\n<p>[Source: Green Car Congress, thanks to Domenick for the tip]<\/p>\n<p>https:\/\/www.autoblog.com\/2007\/12\/06\/phoenix-motorcars-gets-a-refill-for-the-petty-cash-box\/<\/p>\n<p>2007-12-06T15:35:00+00:00<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&#x27;s some interesting financial activity going these days in the electric vehicle realm and it wouldn&#x27;t be surprising to see some consolidation happen soon. In the past year Phoenix Motorcars and Zap have trailed only the Tesla Roadster and Chevy\u2026<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5285","post","type-post","status-publish","format-standard","hentry","category-autoblog"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=\/wp\/v2\/posts\/5285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5285"}],"version-history":[{"count":1,"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=\/wp\/v2\/posts\/5285\/revisions"}],"predecessor-version":[{"id":10092,"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=\/wp\/v2\/posts\/5285\/revisions\/10092"}],"wp:attachment":[{"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.abuelsamid.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}