The first round of investments amounting to $12 million comes from Quercus Trust based in California and 21 Ventures LLC headquartered in New York. The funding allows ETVM to engage in multi-year R&D in partnership with some organizations and universities.

ETVM believes that the future of transportation will heavily rely on the development of electric vehicles which are highly efficient, environment friendly, and cost effective. The new generation of range extended EVs can be optimally developed using their lithium ion battery technology and the on board charger using the micro turbines.

The micro-turbine that will be used by ETVM will be using the principles of Rich, Quench, and Lean. The dual mode will allow excellent efficiency by operating at two points.

The micro-turbine will also have advanced designs in terms of its ducts, valves, heat exchangers, and sealings. These features will give the technology more freedom in terms of matching the micro-turbine with vehicle categories in need of different drive cycles.

The company also conducted a study which shows the cost effectiveness of using on board chargers in REEVs. The EVTM development team foresees their P1 prototype turbine by Q2 of 2010.

On the development of the battery, EVTM is in collaboration with the Bar Ilan University to produce a 4.7V LMNO or Lithium Manganese Nickel Oxide cathode. They are exploring the possibilities of coming up with an LMNO/Graphite for a 4.7V battery and a LMNO/LitiO for a cell with 3.2V.

Ford is working with Smith Electric Vehicles to make the US release of the electric car series possible by next year. In the UK, on the other hand, the Ford collaboration is with Tanfield.

Presently, the conventional Ford Transit Connect is built for small business entrepreneurs and owners. First released n Europe in 2003, Transit Connect is a front-wheel-drive commercial vehicle that has a spacious cargo. Ford recently powered up its engine to a 2.0-liter DOHC four-cylinder gasoline. The vehicle also has an automatic four-speed transaxle.

Since its introduction six years ago, the Transit Connect has been sold to at least 600,000 costumers in 58 countries around the globe. It’s initial sticker price begins at $21,475.

What’s in the Battery-electric Transit Connect?

The battery-electric Transit Connect is pegged to set forth new generations of hybrid-electric and plug-in electric vehicles in 2010. The prices of the battery-electric Ford Transit Connect vehicles are projected to be more affordable with more developments in the coming four years.

A new small electric car by Ford will be introduced in 2011, while the hybrid vehicles and the plug in vehicles will be commercial available in North America in 2012 and 2013 respectively. This was announce in Ford’s electric vehicle plan last January.