Think Global gets $60M more for practical electric car

July 20, 2007 | Matt Marshall | Comments | |

think.jpgNorwegian electric car company Think Global AS, aiming to roll out its first electric vehicles this years, said it has raised $60 million in its second round of financing.

Its the latest electric car company to get significant funding, following Silicon Valley’s Tesla Motors, which is building a high-end, all-electric sports car.

The two companies are partnering, with Tesla providing batteries for the Think, a much smaller, more practical car.

Think has now raised $85 million this year. Investors include DFJ Element, RockPort Capital Partners, British Hazel Capital and CG Holding. They join existing investors Canica, Capricorn Investment Group and Wintergreen Advisers, among others (see entire statement here).

The cars will be priced at about $35,000. On top of that is an additional $100 to $150 monthly fee for the battery. To start with, the cars will be marketed in relatively small amounts in Europe

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  • There is a Indian Car called Reva which run's on battery and is quite popular in India. It's also marketed up till some extent in UK.

    http://www.revaindia.com
  • Einar Brage Thorsteinsson
    The Reva is not a car. It is type recognized as a four-wheel motorcycle, and has recently gotten a lot of slag for absolutely rubbish safety standards. It was, in fact, banned(!) in Australia after completely collapsing in an Australian safety test.
  • Frank Craig
    When are these people gonia get real. $35,000 thousand is not recognized as something lower class people will buy. Even people making $50,000 a year would think twice about buying it. Poor people will still be driving the old stand by I think.