Norwegian company Think Global has announced plans to sell its Think City EV in the US from next year.
Speaking at the Fortune Brainstorm Green Conference in Pasadena, CA, on Monday, CEO Jan-Oluf Willums announced that cars will arrive in the US in limited numbers later this year. The first cars are destined for utilities like Pacific Gas and Electric and "influential companies" such as Google, for test and evaluation purposes. Cars will go on sale to the general public in 2009.
The vehicle has a top speed of 65MPH and a range of 110 miles between charges. It is described as emissions free, 95% recyclable and compliant with all relevant US and European safety standards.
Cars will be brought to the US by Think North America, a joint venture between Think Global and venture capitalist firms Kleiner Perkins Caulfield & Byers and RockPort Capital Partners. The new set-up will be based in Menlo Park, CA.
The company expects the cars to cost in the region of $25,000, with anticipated annual sales of 50,000 units in two or three years. At that price, it looks as if Think is aiming to go head to head with Toyota for a slice of the market in affordable environmentally conscious cars.
Via Mercury News
Read the full Think Global press release here
written by Bernard Lavilliers, April 24, 2008
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