This is the first in the product line of Detroit Electric after it revived from the Great Depression in the year 2008. Even after revival, the company had a tough time, almost dissolving when its partnership with another electric car maker, Zap, collapsed. Followed by economic downturn scenario, the company slowly continued working on the first product line, giving a hint to launch its new battery-powered sports car. However, Detroit didn’t reveal much about its first product except that it is a complete electric, two-seated sports car.
Detroit Electric is planning to begin with the production of its new battery-powered sports car by late summer months, at a small plant near Detroit. It expects to have an annual production of 2500. Furthermore, the electric car manufacturer also plans to hire 180 employees, including the ones at the plant and for sales and marketing. Detroit Electric promises that the new sports car will be the first of its kind in the extensive suite of high-performance battery-powered electric cars to follow in the coming years. The auto maker has already planned to introduce two more into the product line by the end of 2014.
According to Don Graunstadt, CEO, North American Operations, Detroit Electric is committed to play its role in the revival of the company through entrepreneurship, innovation, and determination. The management team and investors is thankful to the State of Michigan to have allowed the company to continue with its legacy that started in Michigan several years back. With the launch of best-in-class battery-powered electric car, the company is expected to turn back and revive from its current economic crunch situation.
However, time will tell whether Detroit Electric becomes successful in invoking consumer interest or whether it has sufficient funds to make its plans a success.
