Electric car update (Part 4): Think City
News and rumors regarding electric cars have been increasing in these past few months, so I thought I'd do a little research on the most salient models that are being talked about.
This time around we'll look at a very cool entry from Norway's Think Global...
Launch date: Fall 2007 (UK and Norway), possibly 2008 for U.S.- Price: $35,000
- Top speed: 65 mph (105 km/h)
- Autonomy: 130 miles (210 kms) between charges
- Battery life: N/A
- Battery charge time: 6-7 hours.
- 0-60 MPH (0-100 km/h): Under 10 seconds
- Chassis: Pivco, Ford
- Technology partners: Tesla Motors (batteries)
- Company HQ: Aurskog, Norway
- Founders: Jan-Olaf Willums, Alf Bjørseth, Reidar Langmo
- CEO: Jan Olaf Willums
- Sales estimates: Their goal is to make 20,000 cars a year
- Dealer network: Cars will be sold online, built to order
- Website: http://en.think.no/
Latest news
Just received $60 million in new round of funding, on top of $25 million they already had. Counts major Norwegian business magnates among investors.
Curious facts
The company was actually born at Ford, who after five years and $150 million finally sold it off.
Think will begin production later this year. Reportedly, they need to produce 10,000 cars a year to be profitable.
Batteries will be leased for $100-200 a month, not sold. When better batteries are made available, owners can simply switch over.
Cars will be sold online built specifically to the customer's order. Test drives will be requested by text message to a Think car-sharing franchise. The City will be Internet and Wi-Fi capable, able to communicate with both driver and fellow City owners.
Insightful quote
"By leasing the battery the consumer doesn't take the risk over the unknowns of battery life," says Think CEO Jan-Olaf Willums. "We're moving from a car concept to a mobility concept. People look more and more at the full cost of ownership."
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Tags: Think City, Think Global, Jan-Olaf Williams, Tesla, automotive, auto industry, automotive industry, China, Chinese auto industry, Chinese automotive industry, alternative energy, electric cars
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You are right of course, in search of brevity I tried to summarize, unfairly in this case.
I agree with your thoughts on Ford, too bad they didn't keep Think.
Posted by: Al McClymont | January 08, 2008 at 07:00 AM
In fact, Think was NOT 'born at Ford'. Ford acquired the company after it declared bankruptcy in late 1999, get it for about $10 million. Ford decided to buy the Norwegian company in response to California's ZEV mandate, thinking it would have to sell tens of thousands of EVs in the state. When carmakers successfully got the mandate postponed, Ford no longer had a reason to keep Th!nk and sold it off at significant loss. In hindsight, it should have kept the company, if only for the green PR value. Instead, it invested its money in fuel cells, which are a much longer and probably riskier long-term bet.
Posted by: Bill Moore | January 07, 2008 at 06:46 PM