A £1.4 billion cash boost will lead to a family of EVs and create up to 200 jobs at the British-based company

British EV firm Detroit Electric will produce a family of electric models, which will be announced at the Cenex Low Carbon Vehicles event in September. 

These models will be developed and unveiled within the next three years - a remarkably short gestation period for such an ambitious expansion. 

The new model plans come in the wake of a $1.8 billion (£1.4bn) investment by its partner, the Far East Smarter Energy Group. This investment will be split between upgrading the brand’s facilities in Warwickshire and China, where it will recruit up to 200 new people, while the rest of the funds will go into producing the cars themselves.

With production capabilities in the UK and China, domestic UK and Chinese markets are likely to be targeted, as well as possible expansion into Europe. 

The company hopes to transform its current Warwickshire engineering and manufacturing centre into a fully fledged R&D centre. 

The new EVs will join Detroit Electric’s SP:01 electric sports car, which is based on the Lotus Elise

Announcements of the brand’s full plan will be made at the LCV show, along with a preview of the first model planned as part of the new EV offensive, but it’s likely that more mass-market offerings than the hardcore SP:01 are on the table. 

A Detroit Electric spokesman couldn’t reveal any further details ahead of the company’s announcements next week. 

Read more: 

Detroit Electric SP:01 sports car to launch following £1.5 billion deal

2016 Detroit Electric SP:01 - on-sale date, specs, pictures

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31 August 2017

Why are they called Detroit. The 'business plan' sounds ridiculous.

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