Liberty Electric Cars, a company based in Oxford, England, will invest 30 million British pounds, or almost 59 million dollars, to re-engineer luxury cars and 4x4s into electric vehicles.
The vehicles will be Range Rovers converted into electric.
Liberty Electric Cars will buy them in the retail market, strip out the engines and gearboxes, and then retrofit each with an electric motor. The cars will have a range of 200 miles before they need to be recharged. However, on-board generators can be used to extend the range.
The cars will cost between 95,000 and 125,000 British pounds.
Liberty boasts that it will make tens of thousands of vehicles a year by 2012.