By YOUNG MONEY Staff
22 February 2011

Uber-luxury automaker Rolls-Royce has seen an uptick in demand for its cars over the past 12 months following the downturn from the recession. The car company recently announced plans that it will make an all-electric version of its flagship Phantom model, to be called the 102EX.

Following the initial success of Chevrolet and Nissan - whose Volt and Leaf respectively received accolades and press attention - Rolls-Royce said it will built the all-electric Phantom 102EX as a one-off project. Executives from the company said the electric model will be unveiled March 1 at the Geneva Motor Show.

Rolls-Royce will use the Geneva Motor Show essentially as a test run for the electric car; after the show, it plans to take the Phanton 102EX on a sort of world tour to see whether an electric vehicle could fit into the Rolls-Royce brand and car lineup - in terms of both functionality and consumer perception.

In a press release, Rolls-Royce said the company's intention is "to carefully test the opinions and reactions to alternative drivetrain options of a range of stakeholders, including owners, enthusiasts, members of the public and the media." The company has a website that is devoted exclusively to the car - www.electricluxury.com.

Rolls-Royce says it will wait to release further details of the electric Phantom until Februrary 28 - right before its official unveiling.