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DETROIT ELECTRIC

The Detroit Electric was an electric vehicle produced by the Anderson Electric Car Company from 1907 to 2008. The company was revived in 2008 by Lotus and Apple Executive, Albert Lam. Although initially based in Detroit, USA, the company moved to the Netherlands with production based in the UK. The chassis for the concept SP:01 is based on the Lotus Elise, same as for the Tesla Roadster. In 2017 the company received Chinese funding through the Shanghai-listed Far East Smarter Energy Group.

The company plans to release an all-electric luxury sedan in 2019, followed by an SUV based built on the same platform. The company aims for full production of around 60,000 units per year of its product range.

 

SALES | NEWS

DETROIT ELECTRIC EV MODELS

DETROIT ELECTRIC EV SALES

Go to our detailed breakdown of Global EV Sales to see how DETROIT ELECTRIC fares to its competitors in the fast-growing EV market.

 

GLOBAL EV SALES

DETROIT ELECTRIC IN THE NEWS

2017 Week 35 - Detroit Electric starts recruitment drive as it gears for EV development

Detroit Electric announced that it would provide greater clarity on its EV development plans at an upcoming industry event in the UK, the Cenex’s Low Carbon Vehicles (LCV) 2017. The UK based startup is in the midst of a recruitment drive where it will add up to 200 people to its payroll by the 2nd quarter of 2018.

2017 Week 21 - Detroit Electric ownership restructured

In March the UK based Detroit Electric signed a joint venture agreement with Shanghai-listed Far East Smarter Energy Group (Smarter Energy). The JV called for the Chinese partner to invest $370 million over a four-year period. Already the JV is experiencing stress as Smarter Energy this week announced that it would transfer 40% in Detroit Electric to Far East Holding Group (Holding) to secure financing. The transaction was done at no value. Smarter Energy revealed that the financing round is taking longer than anticipated and that it is struggling to secure the required production certificates from the Chinese Government to be allowed to produce electric vehicles. Up till May 2017, only fourteen such permits have been granted by the Chinese authorities. The remaining shareholding structure of the joint venture now has Detroit Electric owning 50% while Yixing Environmental Protection Science and Technology Industrial Park 10%. It is unclear how the restructuring will impact on the company’s timeline to bring the SP:01 to production by 2018.

2017 Week 10 - Chinese investment to create UK jobs

Another significant investment this week was by the Shanghai Listed Far East Smarter Energy Group in the UK based Detroit Electric. The investment totaling £1.5 billion will eventually lead to the creation of 400 jobs at the company’s Leamington Spa facility for the production of its SP:01 EV.

TOOLS TO COMPARE ELECTRIC VEHICLES

We have designed some cool tools to compare electric vehicles. Our tools include a mobile app, charging cost calculator and EV selector. Use wattEV2Buy’s proprietary tools to find the ideal EV for your requirements and determine the cost of charging EVs.

EV SELECT

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Not sure which model EV to choose?

wattEV2Buy’s easy to use EV Select tool helps identify which electric vehicle is perfect for your specific requirements. EV Select compare electric vehicles battery electric range over various vehicle types. Within four clicks you can get the perfect luxury sedan able to drive your required distance on battery power.

EV CHARGING COST

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Unsure what the charging cost will be?

wattEV2Buy’s easy to use Charging Cost Calculator compare electric vehicles charging cost in your state and relate it to equivalent gasoline cost. The charging cost calculator also allows you to be specific and customize your electricity cost in kWh and provide results in miles and kilometers, making it usable all over the world.

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