One year after nearing financial ruin, Think said Thursday that it has starting making its small all-electric sedan.
The Norway-based company plans to begin delivering the two-seat Think City to customers in Europe, where municipal governments and utilities plan to use them as fleet vehicles. Think has orders for 2,300 of the cars, supported by government incentives. The initial car deliveries are due before the end of the year.
The Think City can go as fast about 60 miles per hour and it has a range of about 100 miles, on lithium ion batteries supplied by EnerDel. The car is being marketed to city dwellers who would like an electric car for daily commuting and errands, but not long trips. It's one of a few electric cars aimed at mainstream consumers that will be coming out in the next two years.
Valmet Automotive, which manufactures for Porsche and Fisker Automotive, has a production line of Think City cars at a plant in Uusikaupunki, Finland.
The company, which has its roots at Ford, plans to open a manufacturing facility and to launch sales for the Think City in the U.S. sometime in 2010. It also hopes to make money by licensing its electric power train to other automakers.