Round One: A million vehicles or bust. Volume would increase steadily until it reached an astonishing one million cars by 2015-17. There was no more talk of raising billions of dollars and manufacturing a million cars. The sole tangible accomplishment toward designing and building an electric vehicle was the May 2010 purchase of EuAuto Holdings Limited in exchange for shares of preferred stock. U.S. regulations classified the vehicle as a Neighborhood Electric Vehicle due to its small size and low speed.

Source: Forbes October 31, 2021 20:34 UTC