Miles EV finds $15m funding for high-speed electric car
The team at Miles Automotive has just taken a big step toward making their XS500 electric sedan a reality thanks to $15 million in new funding. Los Angeles-based Angeleno Group led the latest funding round for Miles. The XS500 is a highway-speed-capable battery electric sedan that Miles is developing for production in China and sales in the U.S. and Europe. Recently, Miles has been doing a lot of re-engineeriffng of the XS500 which has led to some 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. Considering that no one else has yet managed to build a car like this, the XS500 could be quite an achievement.
[Source: GreenCarAdvisor]
Reader Comments (Page 1 of 1)
Dave 1:13PM (2/25/2008)
There just isn't any hard info. on this car. I've looked everywhere I can think of, and Miles doesn't have testimonials, videos, blogs, etc. No reviews, no third party drives, no orders. What gives?
If this car is THAT close to production, I'm having a hard time swallowing it.
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Pete 1:41PM (2/25/2008)
Perhaps we're spoiled by Tesla's openness, seeing vids on test drives, crash tests and updated blogs. Though, if I were Miles or Phoenix or whoever, I'd get as many vids of working electric cars out there. Video taping and posting on the web is so easy that not doing so insinuates something worth hiding. Sad, but true.
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Zach Broder 5:04PM (2/27/2008)
Though I agree some videos would be really nice, maybe they don't show videos now becuase they don't want to contribute to all the hype that other companies buy in to! I'd rather wait to see
video of a near-production prototype that's in official crash testing and has working parts and near-solid prices and near-solid delivery dates, then see fancy videos today of one-off prototypes for which all those benchmarks are still GUESSES. I for one commend Miles EV for not buying into the hype, and for taking their time instead of getting
us excited before they have solid FACTS. Slow and steady wins the race. I think that this industry has so many variables, that inevitably there will be delays and changes --that's fine-- I guess
what I'm saying is that I can appreciate waiting for facts later rather than oodling over eye candy now. It's takes patience not to rouse a cash-in-hand following prematurely, but I suppose another $15mil sure helps take the pressure off!
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