It doesn't help that they got $529 million in loans from the taxpayers. If it totally defaults the U.S. Department of Engery will decide what happens to the company. It certainly didn't help much that their battery supplier, A123, went bankrupt. Not to mention that they lost 300 cars in the east coast storm, Sandy. They have sold somewhere around 2,000 cars worldwide.
1922 DETROIT ELECTRIC
The original Detroit Electric produced 13,000 cars between the years 1907 to 1939. The name layed around for many years until Albert Lam revived it in 2008. His plan, of course, was to build an electric car. Last week he introduced his new product which will go on sale in August. Like the Tesla Roadster it will be produced by Lotus, the bodies I mean, and it is a fine looking car. This is not by mistake, Albert Lam had been one of the CEO's at Lotus. The company claims that it will do 0 - 60 mph in 3.7 seconds and has a top speed of 155 mph on a four-speed gearbox.
They will produce the car in the Detroit area.
ALBERT LAM AND THE DETROIT ELECTRIC
top photo credit: © 2013 Fisker Automotive
middle photo credit: © 2013 Henry Ford Museum
bottom photo credit: © 2013 Ricardo Thomas / The Detroit News