Detroit Electric signs deal to manufacture electric SUVs in China

Detroit Electric

Detroit Electric, maker of the the SP:01 limited-edition electric two-seater, has formed a three-way joint venture with China Smarter Energy Group (CSE) and the China Yixing Environmental Technology Industrial Park Development Corporation (ES&TP) to manufacture electric SUVs in China.

The new company, Emperor Electric Car, has a total investment of around $1.8 billion, and will be headquartered in Hong Kong. Construction of production facilities in Yixing City in China’s Jiangsu Province is to begin this year.

The new brand’s first vehicle will be an electric SUV, with other models to follow. The company hopes to sell 100,000 cars in 2020.

Detroit Electric

Source: Forbes