Thursday, March 6, 2008

Miles XS500 Electric Car Will Be More Expensive

Miles XS500 Electric Car Will Be More Expensive

Miles Automotive company has just taken a big step toward making their XS500 all electric sedan a reality thanks to $15M in new funding. The Miles XS500 is a highway speed capable all electric car that is developed in China and will to be sold in the U.S. and Europe.

Recently, Miles has been doing a lot of re-engineering which raised questions as to whether they can actually deliver a car with the specifications that they have quoted at a $30,000-35,000 price point. According to Miles Automotive Marketing Mgr, Kara Saltness, "Due to the complexities of the development process, we cannot yet determine the exact price for the XS500 at launch in the U.S. market."