Norwegian electric car company Think forms JV with US clean tech investors, Kleiner Perkins and RockPort Capital

22 April 2008

Norway-based electric car manufacturing firm Think has established a joint venture with two American clean tech investors, Kleiner Perkins and RockPort Capital, to expand its business in North America.

The new venture was announced at the 2008 FORTUNE Brainstorm Green Conference held in Pasadena, California, which brought chief executives from all over North America together to talk about the business opportunities of ''going green.''

Jan-Olaf Willums, CEO of Think Global. stated, the TH!NK city is the world's only crash-tested and highway-certified electric vehicle, ideal for markets such as California. Think will carry out trail runs and demo-projects of its electric cars in the American city to display the exceptionally safe features and overall driving satisfaction of the cars.

TH!NK city, an eco-friendly car with nearly zero emission and 95 per cent  recyclable, meets all European and US federal motor vehicle safety requirements. It reaches a top speed of 100 km (65 miles) per hour and can drive up to 180 km (110 miles) on a single battery charge.

During the Geneva Motor show earlier this year, Think unveiled the TH!NK Ox, the first 4/5-seater fully-electric vehicle which is slated to begin production in 2010/11. Think also announced a strategic partnership with energy giant General Electric, also an investor in Think at the Geneva show.

The Norwegian company has already formed partnerships with American battery suppliers A123 and EnerDel.