Detroit Electric Might Be Dead Before It Ever Lived

If you were excited about the Detroit Electric SP-01, the claimed world's fastest pure electric car set to be produced right here in America, then here's some bad news: Production was supposed to begin this month, but that seems to be on hold.

The Detroit News reports that a lease agreement to produce the SP-01 at a former Plymouth plant in Wayne County, Michigan has yet to be finalized even though the cars were supposed to enter production in August. Their plans to produce 2,500 cars annually and employ more than 100 workers have now been pushed back, the newspaper reports.

From Detroit Electric North America president Don Graunstadt:

“To further elaborate at this juncture is, unfortunately, not possible as Detroit Electric have entered into negotiations with other parties that have the potential to impact our business strategy and timing,” Graunstadt said.

“Not only are we legally bound to maintain the confidentiality of the discussions, any comment would by the nature of the situation be pure speculation due to the variables involved.”

You'll recall that Detroit Electric was started by several former Lotus executives who acquired private capital (but not government funding like Tesla or Fisker) with the goal of selling enough $135,000 SP-01 sports cars in order to produce less-expensive electric models. They also had a deal with China's Geely to sell cars there.

Detroit Electric seems to be an interesting venture. I hope we aren't seeing its demise before any cars even get built.