Terry McAuliffe is in the car business.
The former Virginia Democratic gubernatorial hopeful last week paid $20 million for Hong Kong-based EuAuto Technology, which builds an electric vehicle called the MyCar.
MyCar is for people who need wheels to run errands or tool around the neighborhood.
"It's really a second car if you live in Washington," McAuliffe said.
McAuliffe bought MyCar through his McLean-based holding company, GreenTech Automotive. GreenTech will provide MyCar with capital and access to the U.S. market.
McAuliffe said if MyCar is approved by the U.S. regulators, it could be on sale next year.
MyCar can travel 70 miles on a single charge and has a top speed of 45 miles per hour.
The MyCar is not for highway travel, and is designed to sell as a second car for families. The MyCar will be priced between $13,000 and $16,000, McAuliffe said. It will take four hours to charge.
In addition to the MyCar, GreenTech is developing four highway-ready prototypes using European technology. Three of the vehicles are hybrids and one is electric. McAuliffe said GreenTech is scouting sites in Mississippi, Tennessee and Virginia for a plant where it can manufacture his product line.
Read complete news @ http://www.evhub.in/news/22
MyCar is for people who need wheels to run errands or tool around the neighborhood.
"It's really a second car if you live in Washington," McAuliffe said.
McAuliffe bought MyCar through his McLean-based holding company, GreenTech Automotive. GreenTech will provide MyCar with capital and access to the U.S. market.
McAuliffe said if MyCar is approved by the U.S. regulators, it could be on sale next year.
MyCar can travel 70 miles on a single charge and has a top speed of 45 miles per hour.
The MyCar is not for highway travel, and is designed to sell as a second car for families. The MyCar will be priced between $13,000 and $16,000, McAuliffe said. It will take four hours to charge.
In addition to the MyCar, GreenTech is developing four highway-ready prototypes using European technology. Three of the vehicles are hybrids and one is electric. McAuliffe said GreenTech is scouting sites in Mississippi, Tennessee and Virginia for a plant where it can manufacture his product line.
Read complete news @ http://www.evhub.in/news/22
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