Detroit Electric, Dongfeng Motor Do Deal for Chinese Electric Vehicles
By John O'Dell June 19, 2009
Detroit Electric, the Dutch EV startup, said it has signed an agreement with China's Dongfeng Motor Corp. to help develop and sell electric vehicles in China.
Detroit Electric's first prototype EV uses a body built by Malaysia's Proton.
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The initial agreement calls for Dongfeng to test and validate Detroit Electric's technology with the intention to use it in production of Dongfeng-branded EVs.
The companies said they also are in discussions to form a joint venture company to manufacture, assemble, produce and supply the electric drive technology to the Dongfeng Group and other vehicle manufacturers.
Previously, Detroit Electric and Malaysian carmaker Proton signed a licensing and assembly deal that would provide Detroit Electric with vehicle platforms and its first manufacturing base.
Detroit Electric, formed last year by a group of Dutch, Malaysian and American investors, has said it intends to begin selling EVs in Europe, Asia and the U.S. next year,with a first-year goal of 45,000 sales, increasing to 270,000 by 2012.
That's an awfully optimistic goal and we're not holding our breath -- but we do wish them luck.
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