Norwegian 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