Detroit Electric, a US-based 100+ year old manufacturer of electric vehicles, has raised capital from Hong Kong private equity firm, according to Dow Jones LBO Wires. This is the latest example of how PE is going global.
The report says Detroit Electric is the first deal by the Associates, founded by a former Carlyle Group executive. The funds aims to make lifestyle and socially responsible investments. The company’s first commercial model, is an upscale one. It is a two-seater sports car that retails for USD 135,000. (Image Source: Detroit Electric)