Ex-Chrysler Chief Ventures Into Scooters

The man who brought the world the Ford Mustang is now selling electric scooters.

Former Chrysler Corp. Chairman Lee Iacocca announced Monday that he has started EV Global Motors Co. to develop “light electric transportation,” including two- and three-wheel cycles.

Iacocca is founder, chairman and chief executive officer of the company, which will eventually make electric cars.

“I spent 50 years in the automobile industry,” Iacocca said in a statement. “During that time, I worked to put one, then two cars in every garage. I believe the time is right for electric transportation, and hope to put LETs in every garage.”

Iacocca retired in 1992 from the automaker he helped save from bankruptcy. As a vice president at Ford in 1964, Iacocca introduced the Mustang.