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Miles Automotive trying to be first to market with a full speed $30K EV

Miles Automotive is getting some attention again with their effort to beat everybody from Tesla to GM to market with an affordable plug-in electric car. They have been showing the Javlon XS500 for a while now and Sebastian saw it and talked to Miles Automotive's Chris Buehrer last spring. The way they plan to sell a lithium ion battery powered car that go at highway speeds for $30,000 is to have it built in China.

According to company founder Miles Rubin, they expect to get their first prototypes this fall and they need to make some changes to meet US safety regulations. Unfortunately sourcing a car, especially one with lithium batteries from China, may make that a particularly difficult challenge. Recent crash tests of Chinese-built cars in Europe have had particularly catastrophic results. Miles may have a tough time meeting safety standards and still hitting their price target.

[Source: CNN Money]

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