Detroit Electric forms venture with Geely

Detroit Electric, a Michigan-based electric car startup, announced a partnership with China’s Geely Automobile (0175.HK, GRU.ETR, GRU.FRA) to develop an electric vehicle for the mainland market, Reuters reported. The two companies are planning to develop a battery-powered version of Geely’s Emgrand EC7, a car comparable to Honda’s Civic. This comes as a result of China’s efforts to push electric, hybrid, and other green cars to drivers, a move that has largely failed to gain traction in the world’s largest auto market despite generous incentives. There are no details yet about how much the electric version of the EC7 will cost, though a company spokesperson said it would be priced for “everyday users.”