The Electric RaceAbout (ERA) project has just launched their new website giving details about their entry in the 2009 10 Million Automotive X-Prize competition. The goal of the ERA is to reach low volume production using a novel break-through technology which includes Lithium batteries, a full carbon fiber body and 4 electric drives (one motor per wheel).

The ERA is based on a modified Audi R8 chassis to save on some engineering costs , the Electric RaceAbout (ERA) is lightweight with a 2,750 lbs target weight. The AWD electric vehicle is expected to have a range of about 200 miles and a top speed of over 125 mph. The goal is to make this vehicle reach the specified 100+ mpge level with li-ion battery packs that will weigh close to 1000 pounds. The ERA uses regenerative braking to boost battery performance.

The ERA should be arriving sometime next summer. The Institute of Design, Lahti Polytechnic and the Helsinki Polytechnic Stadia are working together on this vehicle. There is no current prices estimates for the vehicle but they do hope it will come in close to a premium sports car.