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 $750,000 U.S. for giving up its ownership interest. [Source: Detroit Electric] Continue reading Detroit Electric turns to Europe for investment, technology Permalink | Email this | Comments ...
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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 $750,000 U.S. for giving up its ownership interest. [Source: Detroit Electric] Continue reading Detroit Electric turns to Europe for investment, technology Permalink | Email this | Comments ...