Axon Automotive, which is part funded by the UK Technology Strategy Board and has developed its technology in partnership with Open University and Cranfield University, said the new hatchback would go into production at small factories in the UK and mainland Europe, with the first cars delivered to customers from 2011.
The car appears to use standard plug-in hybrid technology, which allows the vehicle to travel short distances using just battery power before switching to use a petrol or bioethanol powered engine. The company did not disclose pricing for the two-seater car, but stated on its web site that it would be available at an "affordable price".
"By designing lighter cars and giving them good aerodynamics you not only reduce emissions but get significant improvements in fuel efficiency," said Axon's managing director, Dr Steve Cousins, adding that the carbon fibre technology would give the company a differentiator over the raft of new plug-in hybrids that are expected to be launched over the next few years.
He added that the company's calculations had shown that even when using electricity provided by the grid the cars carbon emissions stand at just 50g/km, half the level needed for free annual road tax in the UK.
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