There's some interesting financial activity going these days in the electric vehicle realm and it wouldn't be surprising to see some consolidation happen soon. In the past year Phoenix Motorcars and Zap have trailed only the Tesla Roadster and Chevy Volt in attention for battery-propelled vehicles. Unfortunately for both companies (and Tesla) revenues have not been in proportion to press coverage and as we all know building a complete vehicle is not a trivial challenge.
Phoenix has just topped up their bank account
Update: I misread the original source. The amount invested by Al Yousuf in Phoenix has not been disclosed yet. The investment is in the form of convertible debt .
[Source: Green Car Congress, thanks to Domenick for the tip]