ANDERSON — While starting a new business takes money and capable workers, it also requires more intangible assets, according to the president and CEO of a local automotive start-up company.

“The essence of entrepreneurship is freedom, but it must be inspired by vision, passion and creativity,” said John Waters, who started plug-in hybrid car developer Bright Automotive.

Waters served as the keynote speaker at Friday’s ninth annual Anderson/Madison County Chamber of Commerce Entrepreneur Award Luncheon. The business development professional described the need for the company’s flagship product, the Bright Idea, a fleet vehicle that can go 60 miles on half a gallon of gas.

“Today is the perfect time for a lean, experienced, innovative company to bring 21st century solutions to the 21st century,” he said. “A better solution could benefit people in many ways.”

The Bright Idea would tackle the issues of traffic congestion, oil dependence, pollution and job growth, Waters said.

Waters has worked in the automotive industry for years, including at General Motors, where he led the development of the battery pack system for GM’s first electric vehicle; Delphi and EnerDel. He said he was fortunate to work on undefined projects where he could be creative even in the structured environments of his workplaces.

“I often felt suffocated by policies and procedures,” he said. “Once individuals break out of these constraints, there is the opportunity to soar or to sink.”

Starting Bright was not always Waters’ top goal, he said.

“I had no ambition to ever start a car company,” he said. “Economic downturns are great opportunities for entrepreneurs and little start-ups. My company, Bright Automotive, is poised to take advantage.”

Chuck Staley, president of Anderson business incubator Flagship Enterprise Center, said he met Waters in Washington, D.C., which started the relationship between Bright and Anderson.

“It took me all of 90 seconds to realize that John was the real deal,” Staley said. “(Bright has) brought an entire new vehicle to life. Despite all of his accomplishments, I find him to be a modest individual.”

Bright’s team went from building clay models of the Idea to having a fully functioning prototype within four months. Waters said he started communicating with people he called “geniuses” in other businesses, including Alcoa, Johnson Controls and Google, in his search for investors. Bright’s business model involves one-third of the cost and half the time as those used by other carmakers, Waters said.

“In hindsight, we couldn’t have picked a better place or better investors,” he said.

Despite all its luck though, Bright hasn’t secured its future. The company has applied for $450 million in government loans to start mass production. Out of the $15 billion left in the government loans program, large automakers GM and Chrysler have applied for $17 billion. It is unclear whether Bright will receive the funding.

Waters said creating sustainable advanced technology vehicles wouldn’t happen if all the government funding went to the Detroit carmakers.

Waters used the U.S. Postal Service as an example of an entity that could benefit greatly from the Idea.

“Can you imagine the U.S. Postal Service driving a vehicle that delivers your mail for the cost of a postage stamp?” he asked. “It could take the Postal Service from debt to profitability. It could also change our country.”



Contact Aleasha Sandley: 640-4805, aleasha.sandley@heraldbulletin.com.