Tanfield To Form Joint Venture For Smith Electric Vehicle Production

Tanfield is forming a joint venture with Smith Electric Vehicles US Corporation (SEVUS) to produce electric vehicles for the North American market.  The UK based Tanfield is the parent company of Smith Electric Vehicles.  According to the post at greencarcongress.com

Tanfield will licence Intellectual Property Rights (IPR), brand and all existing sales and sales enquiries in North America to SEVUS, in exchange for a 49% equity stake in SEV US Corp and per-vehicle royalties. As a majority (51%)-owned US company, SEV US will be eligible for US government funding and other benefits.

Production of the vehicles is expected to begin in 2009.  Tanfield has scaled back from their plans to develop, on their own in the US, a major production facility  with a capacity to produce 10,000 vehicles a year.  North America remains the largest potential market for their commercial vehicles.

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