And that's a good thing.
The last time we’ve heard an update from Detroit Electric, the UK-based reincarnation of what was once America’s most successful electric car company (100 years ago, that is), it was prepping its first model, the SP:01, for production. At the time, Detroit Electric also announced a $1.8 billion investment from China’s Far East Smarter Energy Group, thus making SP:01 production possible. Today, Detroit Electric is back with a new update. In a press release, Detroit Electric said it will unveil three new models over the next three years.
Specifically those vehicles will be a sports car, crossover and a sedan, all of which will be, obviously, electric. They're all previewed in the teaser image below. In order to make those vehicles possible, the carmaker intends to hire 150-200 engineers, also made possible by that Chinese investment. We already knew Detroit Electric intended to expand its lineup, but only now has it made things official. And if the current SP:01 looks familiar to you, that’s because it is. Like the Tesla Roadster, the $135,000 SP:01 is based on the Lotus Elise platform. Also like Tesla, Detroit Electric is following a similar production path, starting with a small sports car and then moving to more conventional segments, in addition to a new sports car.
While the SP:01 never reached mass production, it seems like Detroit Electric is getting its act together this time around. Having nearly a couple of billion bucks in the bank always helps. And remember, Tesla itself got off to a fairly slow start until the game-changing Model S arrived. Following Tesla's general strategy is probably the smartest thing Detroit Electric could be doing.