California has become a global epicenter for electric vehicle technology, pulling in the most EV venture capital in the world in the first half of 2011, according to a report released Tuesday night by Next 10.

Total investment in California EV technology by venture firms hit $467 million in the first half of this year, according to the report, called Powering Innovation: California is Leading the Shift to Electric Vehicles from R&D to Early Adoption. That equated to 69 percent of all EV-related investment in the world and 74 percent in the United States. "California is fast becoming the world's advanced car capital—our entrepreneurs, savvy consumers, research institutions and our market-driving policies are creating a perfect storm for continued growth," said F. Noel Perry, businessman and founder of Next 10, a nonprofit, nonpartisan research organization.

The report, which tracks indicators to assess the health of the EV market in California, also found that California earned 80 percent, or $840 million, of total U.S. and 60 percent of total global VC investment in EV-related sectors. That marks a 712 percent increase since 2006, and Silicon Valley has been at the center of the action, according to the report.

"There was about $350 million invested in Silicon Valley EV research in 2010," said Tracey Grose, lead author of the report and Vice President of Collaborative Economics. Grose pointed to a number of companies in Palo Alto that together have helped California attain its leadership position, including Tesla Motors, , and Efficient Drive Trains, Inc. These businesses make up just part of the favorable environment in Silicon Valley.

"We know there are some interesting companies coming from there, there are world-class research facilities there, and venture capital is very convenient there," she said.

In addition to being a magnet for venture capital, California has also become a national and global patent leader in EV technology, tying Michigan by generating 300 patents between 2008-2010, according to the report.

Battery technology comprised 86 percent of California's EV patents, and, strikingly, job growth in the industry grew four percent in the state while the rest of California's economy shrank seven percent between January 2009 and 2010. Along with Los Angeles, Silicon Valley is a major hub for those jobs. The two cities comprised 47 percent of all EV employment in the state, according to the report.