Lightning is conductor for electric supercar

By Eamonn Rafferty
Published: February 2 2009 01:48

The problems facing the automotive industry across the globe have not deterred one UK company from pushing ahead with plans for a high-performance electric car.
The Lightning garnered plaudits at last year’s British Motor Show, when a prototype attracted widespread praise for its sleek, supercar design. With its “whiff of Aston Martin” looks, the Lightning has a projected price tag of £125,000 ($180,000).

In spite of the price, the Lightning Car Company is confident that the model will do well because the combination of its zero-emissions and high performance will tap into a niche market.
The company believes that a new market is emerging for these vehicles because of increased environmental awareness .
This niche offers higher margins, making it more immune to the economic vagaries that high-volume, low-margin carmakers are suffering, argues the company.
Already the Lightning has attracted 400 expressions of interest and 20 indicative orders. It is expected to be ready next year. The car is likely to use 120kw electric motors on each wheel, giving it an equivalent of 650BHP. Its batteries will give a 300km range and fast-charge options.
Initially, Iain Sanderson, chairman, expects that customers will already have three or four cars in the garage and have the financial wherewithal to be in at the start of this “paradigm shift” – of merging technology with prestige and performance.
At full production, the company, based in London and Peterborough, expects to sell 500 Lightnings a year.
It is raising £2m through St Helen’s Capital, the Aim-listed finance adviser, as part of a £20m fundraising.
Ruari McGirr, St Helens’ chief executive, said: “Lightning epitomises the enduring ability of British engineering to innovate and adapt in the face of new technology and the changing needs of consumers.”
Copyright The Financial Times Limited 2009