Most people know Loremo for its ultra-fuel efficient LS Concept car (pictured), a vehicle with a claimed fuel consumption figure of 117mpg (2L/100km). However, Loremo is no one-trick pony. According to new reports, Loremo plans to launch an all-new electric car based on the LS Concept by 2010.

By this time, Loremo should have both the electric car and a high-mileage diesel version in showrooms with a price tag of around €15,000. Speaking with Automotive News, a spokeswoman said Loremo hopes to sell up to 10,000 vehicles in its first year of sales and foresees this number expanding rapidly in the years after.

The car will weigh less than 600kg and be able to seat four occupants. In the meantime, Loremo will be continue preparing a diesel prototype for the upcoming Automotive X-Prize competition.