Think Global Begins Making City EV
OSLO, NORWAY --- Think Global AS, the electric car manufacturer that exited bankruptcy protection in August, has begun production of its battery-powered City model at a factory in Uusikaupunki, Finland, according to a Bloomberg news report.
In a phone interview with the news agency, CEO Richard Canny said the company is 30 to 60 days away from announcing a U.S. production site for its cars. The automaker has narrowed its search to three U.S. states, which he declined to name.
Think, based in Oslo, reorganized with a $47 million capital injection.
The Think City car, which has a range of 112 miles on a charge, is expected to cost about $30,000 in the U.S. after a $7,500 federal tax credit, Canny added.
The company has orders for 2,350 cars. Think has hired Valmet Automotive, a contract manufacturer, to make the cars.
The first buyers of the City car will be in Europe. U.S. sales are expected to begin in late 2010.
Think Global's largest shareholder is battery-maker Ener1 Inc.