Let’s look at Echo Automotive Inc. (ECAU)
Here is what they do:
Echo Automotive Inc. manufactures cost reduction technology (EchoDrive) for converting fleet vehicles into highly fuel efficient plug-in hybrids. The company was incorporated in 2008 and is based in Auckland, New Zealand.
What’s important to know is they are substantially funded. They announced at $3 million funding on May 23 and they announced they secured additional working capital on June 27. That means the company can concentrate on the technology. On May 22nd, they issued a press release that covered CALSTART’s acceleration of their plan to adopt hybrid vehicle solutions. CALSTART is North America’s leading advanced transportation technologies consortium.