Unique Mobility Europa May Sell Shares to the Public, WSJ Says
Detroit, May 18 (Bloomberg) -- Unique Mobility Europa GmbH, a start-up that will make electric cars, could file for an initial public offering, former General Motors Corp. Chairman Robert Stempel told the Wall Street Journal. Unique Mobility Europa, a joint venture of former Chrysler Chairman Lee Iacocca's EV Global Motors Co., Stempel's Energy Conversion Devices Inc. and Unique Mobility Inc., will have about $50 million in start-up capital. Unique Mobility Europa investors will control 40 percent of the venture, and the start-up funds will pay for prototypes, Stempel said, the Journal reported.
Energy Conversion's Ovonic Battery Co. developed a nickel metal-hydride battery that enables a car to travel about 100 miles more per charge than earlier batteries, which traveled 70 miles. |
