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California Becomes Leader In Electric Car Manufacturing

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A power cable from a vehicle charging station is seen plugged into the side of a Toyota Prius plug-in hybrid August 25, 2010 in San Francisco. (Justin Sullivan/Getty Images)

A power cable from a vehicle charging station is seen plugged into the side of a Toyota Prius plug-in hybrid August 25, 2010 in San Francisco. (Justin Sullivan/Getty Images)

BobMelrose_KCBS_0001r Bob Melrose
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SAN FRANCISCO (KCBS) – California has quickly become the leader in the emerging electric vehicle manufacturing industry. A new study shows that most of the venture capital in the industry is coming to the Golden State.

The study, done by Collaborative Economics, a Peninsula research and consulting firm, shows that 69 percent of the venture capital in electrical vehicle development and research is coming to California.

KCBS’ Bob Melrose Reports:

Collaborative Vice President Tracey Grose said that 1,800 jobs have been created already, but there is potential for far more to come.

”What’s interesting about the 1,800 number is that there is the growth rate,” said Grose. “The growth from January 2009 to January 2010, which is still in the economic downturn, was four percent. That’s while the rest of the economy lost jobs by seven percent.”

More than $460 million was invested in the state’s electric car industry during the first half of this year.

(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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