Detroit Electric May Be On Verge Of Launch With Chinese JV Investor

By Jon LeSage Detroit Electric is close to finally launching its long-awaited SP:01 through a $1.8 investment by a Chinese company.
The startup electric carmaker has formed a joint venture with Far East Smarter Energy Group, a Chinese company that makes batteries and electrical components. The two companies hope to get series production ramped up by the end of this year for the SP:01 electric sports car, and will plan for two more electric car models in the near future.
The companies will invest about $370 million to develop Detroit Electric’s operations in Europe. That includes building up its production plant in Leamington Spa, England.

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