In midst of auto crisis, Al Gore backs a new car company in Louisiana

Al Gore
Al Gore

In the midst of the worst automotive industry crisis in a generation, Louisiana Gov. Bobby Jindal is announcing today that a new car company will build an almost one million square-foot plant in Monroe, in the northern part of the state. The company, identity to be revealed, is rumored to be planning to produce high-mileage, gas-powered automobiles.

Funding will come at least in part from venture capital company Kleiner Perkins Caufield & Byers, and readers might recognize another name that recently joined the company as a partner: Al Gore. KPCB, which has formed an alliance with Gore's Generation Investment Management, specializes in green and cutting-edge tech investments. Looking at the partners, I would expect that the tech behind this new company must be a breakthrough; otherwise, why would it back a car that does not use electricity, fuel cells, or a hybrid system?