Detroit Electric Co., the Detroit electric vehicle startup led by former Lotus executive Albert Lam, said today it plans to start building a two-seat electric sports car this summer in Michigan.
The private company, named after an automaker from the early 1900s, will introduce the limited-edition car next month in Detroit, followed by a global unveiling in April at the Shanghai auto show, the company said.
Lam, former CEO of the Lotus Engineering Group and executive director of Lotus Cars of England, resurrected the brand in 2008 and is Detroit Electric’s CEO, the company said.
It said today it has a site in Michigan to build the car beginning in August, with annual capacity set at 2,500. The company declined to identify the site.
Detroit Electric plans to enter the EV market as other companies struggle to attract customers, raise operating funds and remain viable.
The company said it spent five years developing the sports car and plans to produce two other performance models by the end of 2014.
Starting in the 1910s, Detroit Electric Co. produced some 13,000 cars for customers such as Thomas Edison, Mamie Eisenhower and Clara Ford, the wife of Ford Motor Co. founder Henry Ford. It filed for bankruptcy and went out of business in 1939.