Phoenix Motorcars bosses may leave after electric cars are built

The two entrepreneurs who started the electric-vehicle company Phoenix Motorcars already have an exit strategy. Dana Muscato and Daniel Riegert told an area business publication they're "not the management team to run the company." But for now they have a strong plan to build 10 demonstration vehicles to entice fleets into converting to electric vehicles. They say they have the capacity to build 500 vehicles in 2007 and have visions of building 100,000 by 2010. Production would actually be handled by Boshart Engineering.
Phoenix is leveraging its partnership with Altair Nanotechnologies, which will supply lithium titanate batteries. The vehicles come in modular form from an unnamed Asian company.

In the end, the two say they have plans to sell Phoenix when a larger firm realizes the potential of the company.

[Source: Pacific Coast Business Times]

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