A new New York company plans to complete financing this year for a plant to produce electric cars and begin rolling out the three-door, plug-in hatchbacks in late 2010, the company chief executive said Friday.
Bannon Automotive, LLC, will locate its plug-in electric vehicles manufacturing site in Central New York. The company will invest $26.6 million to open a manufacturing facility in Onondaga County, creating 250 new full-time jobs in three years. Empire State Development (ESD) has offered Bannon a $3 million capital grant to proceed with the project.
“New York’s research infrastructure and manufacturing base will help to drive the automobile industry into a cleaner future, as well as create much-needed jobs in the State,” Governor David Paterson said. “By locating in Central New York, Bannon Automotive is helping to establish our State as the global leader in the clean energy economy and is building on my initiative to accelerate innovation in electric vehicle technology through the New York Battery and Energy Storage Technology Consortium. The market for both electric cars and new battery technologies is expected to grow significantly in the coming years, and that means jobs for New Yorkers.”
Bannon Automotive CEO Paul Wimer said: “We are proud that we will produce these cars for the North American market in the United States. Syracuse’s proximity to half the population of the United States allows us to easily reach key markets for new electric vehicles that extend well beyond the northeast. Central New York’s position as a national leader in green technology and the support we received from elected officials and economic development agencies were major factors in our decision.”
Bannon will use technology based on that developed by REVA Electric Car Company Private, Ltd., (RECC) to build REVA’s NXR model, which was recently introduced to the public at the Frankfurt Auto Show in Germany. The NXR is a lithium-ion powered electric car, suitable for urban driving, with three doors and four seats. Depending on the model, the hatchback has a top speed of up to 100 mph and can travel up to 120 miles on a single charge. The car can be fully charged in eight hours from a standard outlet or in one-and-a-half hours from a quick-charge station.