Filed under: EV/Plug-in, Zap
We remember when Zap revived the name Detroit Electric, a classic, last year but the details haven’t been coming very fast and furious since then. Zap announced late last week that the U.S.-Chinese partnership (with China Youngman Automobile Group) is now headed over the Atlantic to find both money and tech help. In a statement, Detroit Electric CEO Albert Lam said that partners in Europe (unnamed) would help with the electric drive system, capital financing and vehicle distribution. More details – like the names of those partners – will be announced in the future. Zap and China Youngman will give up their ownership interest in Detroit Electric, but both will remain involved in the future of Detroit Electric: Zap with North American sales and distribution, China Youngman by providing “vehicle platforms to Detroit Electric for pure electric transit buses and coaches.” Zap also got 0,000 U.S. for giving up its ownership interest.
[Source: Detroit Electric]
Continue reading Detroit Electric turns to Europe for investment, technology
Recent Comments