Detroit Electric has big plans. The company first wants to kick-start the production of its electric roadster, which is based on the Lotus Elise. After that, it plans on introducing a luxury sedan as well as an SUV, which will be produced in higher volume and will, therefore, be a lot more affordable when compared with the roadster. The strategy is quite similar to the one used by Tesla, which has proven to be very successful so far.
Detroit Electric has now found a partner that will help it make its dreams a reality. The company has recently signed a joint venture deal with Far East Smarter Energy Group, which is based in China, and has secured an investment of $1.8 billion.
Around $370 million of that investment will be used to start production of the SP:01 electric roadster at its Leamington Spa factory in the UK. The car will be quite expensive, as it will cost over $100,000 once it becomes available. It is scheduled to go into production by the end of 2017.
The SP:01 will be equipped with a 37 kWh battery pack and have an NEDC rated range of 179 miles. It will be joined by an electric SUV, which is expected to be announced as soon as next year. A sedan will follow in 2020 when the company is already planning to produce around 100,000 vehicles per year.