23/04/08

The Think gets back to the USA

It will be sold also in North America thanks to the support of two investment funds

Six years after its farewell the Think, the tiny Norwegian electric car, gets back to the United States. Thanks to two venture capital firms, Kleiner Perkins and RockPort Capital, the Scandinavian company will have its own American branch in Pasadena, California, throbbing heart of the car industry but also the centre of environmental and pressure groups urging the government in Washington to sign the Kyoto protocol. “The TH!NK city is the world’s only crash-tested and highway-certified electric vehicle and is ideal for markets such as California where we will initiate demonstration projects,” said Jan-Olaf Willums, CEO of Think Global.

“We believe there is a dramatic shift underway of how people think about mobility. Global consumer demand is forcing the industry to come up with sustainable solutions, including the development of zero emission vehicles,” said Wilber James, a Managing General Partner of RockPort Capital Partners and acting President of TH!NK North America.” The Ford group had given up the plan because of a change in the legislation, forcing automakers to sell a limited number of low-emission cars. Now, instead, the conditions are different and look favourable for a positive evolution, also considering the strategic partnerships, announced earlier this year at the Geneva Motor Show, with the American energy giant General Electric, A123 battery supplier and EnerDel.

The Norwegian brand also plans a five-seater which is slated to begin production in 2010. The Think will be available on the American market in 2009 while in Europe the launch has already started in many countries such as Britain.