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wheel media Blog Detroit Edition Detroit Edition

Detroit Electric Car Co. Set to Beat Odds as First Successful Electric Car Company

detroit news electric Detroit Electric Car Co. Set to Beat Odds as First Successful Electric Car CompanyThe early 20th century bred nearly 100 start-up automakers — nearly all of which went out of business.

As the electric car market continues to try to find its way, the upstart Detroit Electric Car Co. hopes to buck the odds and is giving a nod to the Motor City’s know-how by hiring staff and adding plant space in Wayne County.

The company set up headquarters in the Fisher Building this month, plans to hire 180 workers ahead of production in August, is evaluating plant locations and plans to unveil its first prototype sports car April 3.

The first new Detroit Electric will be a roughly $135,000 pure-electric two-seater based on the Lotus Elise platform with an annual run of 2,500 units, said Don Graunstadt, CEO of North America and former Lotus Engineering executive. The company did not provide details on its dealer network or sales plans.

Unlike its advanced powertrain predecessors, Detroit Electric hasn’t received any federal government funding. It received a small-business loan from Ann Arbor Spark in its initial startup but has repaid the loan, Graunstadt said.

Source: Crain’s Detroit

Categories: Detroit News , Startups


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