June 19, 2014 at 11:13 pm

Detroit Electric finishing testing on 1st sports car

Detroit Electric is finishing up testing of its SP:01 at a facility in Europe. (Detroit Electric)

Start-up electric vehicle maker Detroit Electric is one step closer to making its SP:01 sports car a reality.

The company said Wednesday it is finishing up testing of its SP:01 vehicle at a facility in Europe ahead of its introduction in several world markets. Detroit Electric said it will announce more details about production and sales timelines next week.

Earlier this year, Detroit Electric scrapped plans to build its car at an unidentified facility in Plymouth that would have employed more than 100 workers, and said it would build the car overseas in Holland later this year.

If it sells the 999 SP:01 cars slated for production, company officials said they would target Metro Detroit for production of a sedan in coming years.

The company says it is still increasing its team at its Detroit headquarters in the Fisher Building. It currently has seven employees working in the area and expects to soon add another executive, a spokesman said.

The Detroit Electric name, brought back after seven decades by a group of ex-Lotus Engineering Group executives, is buoyed by private investment.

The company said last year it hoped to sell 999 of its $135,000 SP:01 two-seat sports cars, built on the same platform as the Lotus Elise. The company said it would use revenue from that to build a second sports car, and later produce higher-volume, less-expensive electric cars.

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Karl Henkel contributed.