Electric vehicle startup Wheego announced it will launch its full electric two-seat, low-speed car on August 1 in hopes that its release will help raise an additional round of capital.The car is called the Whip, and its development has been supported by money from founder Mike McQuary, his private equity firm Ellis, McQuary & Stanley, Brash Music and MindSpring. The Whip differs from cars in the works at Tesla and Fisker in that it runs on lead-acid batteries instead of lithium-ion batteries — supposedly avoiding overheating issues associated with the latter.
The car charges in six to eight hours and can travel 40 miles on each charge. It will retail for $18,995. With government funding and more capital, Atlanta-based Wheego says it plans to build two assembly plants in the U.S.
Source : Venture Beat, by Camille Ricketts, July 2nd, 2009
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