Think to Launch Electric Cars in U.S.
The Norwegian company has created Think North America, announced at this week's Fortune Brainstorm Green Conference, to begin marketing and selling Think vehicles starting in 2009.
The first Think product to come across the Atlantic will be the City, a battery-powered, emission-free car that has a top speed of 65 miles per hour, can cross 110 miles on one charge and is 95 percent recyclable. The company plans to sell it for under $25,000.
Produced in Norway, the City is slated to initially be sold in France, Switzerland and Scandinavia. The company's production plant near Oslo aims to churn out 10,000 vehicles a year starting in 2009.
Think established its North American arm with investments from clean-tech firms RockPort Capital Partners and Kleiner Perkins, Caulfield and Byers.
Earlier this year at the Geneva Auto Show, Think unveiled its Ox concept, a five-seater with a range of 125 miles per charge.
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