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Miles Electric Vehicles Charges Up With $15 Million

Monday, February 25, 2008 5:40:00 AM PDT | VentureDeal Staff

SANTA MONICA, CA -- Electric auto company Miles Electric Vehicles announced that it has raised $15 million in new venture capital funding.

The company is developing its all-electric MILES XS500 highway speed sedan, which is powered by advanced lithium-ion batteries.

Angeleno Group, LLC made the investment.  The company said it would use the funding proceeds to continue development of its entrant into the low speed electric vehicle market.

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