A new electricity-powered high performance vehicle is on the horizon, but it's not from the company you might expect.
Quebec-based Dubuc Motors is aiming to release its new luxury electric supercar, the Tomahawk — a car that can accelerate from 0-60 mph in three seconds and boasts a 300-mile range. The Canadian start-up plans to raise $25 million in order to produce the vehicle by 2017 — but is planning to do it via crowdfunding rather than venture capital.
The carmaker is blazing a trail set by Elon Musk's Tesla Motors, which got its start as one of the companies financed by the Department of Energy loan guarantee program. In fact, Dubuc sees the Tomahawk as an attempt to complement Tesla in a market for electric vehicles that's expected to soar in the next decade.
"We want to complete Tesla's line, not compete with it," co-founder Mike Kakogiannakis told CNBC recently. "The Tomahawk is designed to be the only '2+2' all electric sports car with performances to the likes of Tesla," he said, speaking of a car configuration that has three passenger seats in addition to the driver.
"The demand for such a car is currently not being met," Kakogiannakis added.