In two connected investments, General Electric has put $4 million into Think, a Norwegian electric car manufacturer, and $20 million into A123 Systems, which manufactures batteries that are used in the cars.
Both companies are already well funded. Think has taken over $80 million to date and A123 has topped $150 million (past coverage here). The new investment by GE makes it the single largest shareholder in the latter company.
A123 is also planning an IPO sometime in the next year, and Think is preparing to roll out the Think City in Europe.
Tags: co:A123-Systems, co:Think, deal, inv:general-electric
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4:17 pm
Norwegian electric vehicle headed to the US » VentureBeat said:
[...] few that seems credible. The company has proved popular in its home country and taken investments from General Electric, DFJ Element, Kleiner Perkins and Rockport, and several European firms.The Think City, the first [...]
4:27 pm
Battery Start-Up A123 to Announce IPO | CleanBeta said:
[...] spokesperson said the battery-maker had no IPO plans in the works. In any event, A123 has attracted investments from Black & Decker, GM and General Electric as well as several blue-chip venture capital [...]
6:06 pm
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