Detroit Electric Unveils the SP:01 Battery-Powered Sports Car image

Detroit Electric presented the SP:01 EV, which will begin limited production in August.

The $135,000, battery-powered sports car, dubbed the SP:01, can reach a top speed of 155 mph and reach 62 mph in 3.7 seconds. The company was founded five years ago, rivaling the hybrid-electric sports-car company Fisker. The model is based on the Lotus Elise chassis, which also used by Tesla Motors for its $100,000-plus Roadster EV.

According to the company, the SP:01 is “the world’s fastest pure-electric sports car,” and that the model will be manufactured at a plant located in the Detroit area, with an annual capacity of 2,500 units. Detroit Electric said that only 999 SP:01 vehicles will be produced and then the company will focus on “a new family of all-electric production cars, including two other high-performance models that will enter production by the end of 2014.”

The Detroit Electric was revived in 2007 as a JV between Chinese Youngman Automotive and California-based EV company called Zap. The JV hired Lotus Engineering to offer contract design and technical services and at the end of 2007 Albert Lam, the CEO of the company became the chairman of the venture and in 2008 was named CEO of Detroit Electric.