Like bees on honey and flies on, you know, whatever flies go for, VCs have been going mad for electric cars of late. After Tesla got a cool $40 million funding boost last week, now it’s the turn of Miles Electric Vehicles.
The company has just been given a $15 million investment by Angeleno Group, a Los Angeles VC firm that specialises in the clean energy sector.
According to the company, the cash will be used for the development of the all-electric Miles XS500 sedan, and for more work in the low-speed electric vehicle market.