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  • joeevani joeevani Apr 23, 2008 12:58 PM Flag

    Electric Car Market

    Think to Bring Electric Car to U.S.--Next Year
    By Marty Jerome April 22, 2008 | 1:46:53 PM
    Wired

    The battery-powered Think City has a range of up to 110 miles on a single charge, with a top speed of about 65 mph, company officials say. It will be priced under $25,000....

    This would be groundbreaking. Tesla's sports car may have pioneered the resurgent electric car in the U.S. But that vehicle costs $100,000 and only about 300 will be built per year.

    How is Think different? Read after the jump.

    Spokespeople for Think plan to produce 30,000 to 50,000 within two years. Currently the company produces 10,000 vehicles per year in Europe.

    Think North America, as its U.S. arm is called, will build cars in Southern California. The vehicle was originally developed by Ford, though it sold it to Norwegian investors in 2003. And while there are a half-dozen U.S. startups working on electric cars, Think has received backing most recently from General Electric. It also has backing from venture capital firms that include RockPort Capital Partners and Silicon Valley heavyweight, Kleiner, Perkins, Caufield & Byers.

 
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