Published on April 13th, 2017 | by Cynthia Shahan0
The Future Began In 1907 At Detroit Electric — $1.8 Billion Revives The EV Company Now
April 13th, 2017 by Cynthia Shahan
Detroit Electric was an original innovator of the electric car. It opened shop in 1907, over a century ago. The company reignited in new form in 2008, but it has apparently taken a while to get rolling again. Presently, Detroit Electric’s new Leamington Spa factory in the UK is in the midst of a staffing drive enabled by a $1.8 billion dollar joint venture deal. “Detroit Electric’s Chief Technical Officer and Company Director Richie Frost, is in the advanced stages of laying the foundations for the company to become a major UK automotive employer,” according to a recent press release.
The fresh press release sounds serious. It’s time to stop idling (with gasoline or diesel). “Although we secured the long-term funding only a few weeks ago, we were already poised to implement our strategy to become one of the world’s leading electric vehicle manufacturers,” Frost exclaims.
“To achieve that, one of the key steps is to first recruit the senior technical team, and we’ve already secured some of the best talent in the industry to begin filling some of the top senior posts. I’m confident of bringing more exceptional people in to complete the management team within the next few months. Then, we can start filling the engineering and manufacturing positions – more than 200 in total over the next six months.”
It sounds like there’s still quite a ways to go before manufacturing can begin, but it also seems like they are moving much faster now.
“This will make us one of the automotive super-employers in the region, and our state-of-the-art engineering and manufacturing centre will be producing world-class electric vehicles for export to global markets,” predicted Frost … with perhaps a bit of hyperbole.
Regarding the $1.8 billion noted at the top, “US$370million will fund Detroit Electric’s European operations over the next four years,” which “will allow the completion of the final homologation phase of its all-electric SP:01 sports car and the start of production at Leamington Spa. In parallel, the expanded engineering teams will develop three exciting all-new models over the coming three years, all incorporating Detroit Electric’s proprietary electric drivetrain system.”