Flush with cash, Detroit Electric to announce full vehicle lineup in September

Detroit Electric headquarters in Leamington Spa, United Kingdom

Detroit Electric headquarters in Leamington Spa, United Kingdom

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Flush with cash from a major Chinese investor, Detroit Electric is on the verge of announcing a full lineup of electric cars the company plans to launch in the coming years.

The historic American brand was revived in 2008 by a former Lotus engineer together with Chinese interests, and has since brought to market an electric sports car based on a Lotus chassis, the SP:01.

Now based in Leamington Spa, United Kingdom, the modern Detroit Electric is on a recruitment drive for engineering talent to help craft additional models, details of which will be revealed at the 2017 Low Carbon Vehicle Event running in the U.K. from September 6-7.

The ambitious plans are made possible by a $1.8 billion cash infusion in early 2017 from Far East Smarter Energy Group. The Chinese company operates in a number of business areas ranging from the supply of power cables and batteries to over-the-counter drugs and other healthcare products.

Detroit Electric is looking to recruit up to 200 engineers by next spring. It will also expand its current headquarters in Leamington Spa with a new R&D facility. This will work alongside an existing engineering hub located in China.

“Having secured the solid financial foundation to embark on our business plan, we’re now building up our team to enable us to deliver our ambitious vehicle engineering program,” Detroit Electric Chief Technical Officer Richie Frost said in a statement.

Some of the models Detroit Electric is planning include an SUV and a sedan. They are targeted for launch in 2018 and 2020, respectively.

Stay tuned for an update following next week’s announcement.

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