Miles EV Raises $15 Million for XS500 Electric Car

After some confusion over how much it will cost, here are some good news about the XS500 electric car, the first highway-capable (80+ mph top speed, 120+ miles range) EV by Miles Electric Vehicles: The company has raised $15 million and the money is earmarked for further development of the XS500.

Last we've heard from Miles, the 2009 XS500 model is still projected to sell for "$30,000 to $35,000" in the United States. Lets hope they can pull it off. For more info on the car, see our previous post about it: XS500 by Miles. Via ::Edmunds. See also: ::Sporty Loremo Diesel will Have Electric Version Too, ::BYD F6DM: Will the First Plug-In Hybrid be Chinese?

Tags: China | Transportation

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