Norway: Th!nk City electric car relaunched
Tuesday, March 13, 2007, AutomotiveWorld.com
Norwegian electric car company, Th!nk Nordic ASA, has relaunched the City electric car.
The updated model comes with ABS and dual airbags and meets European and US safety requirements. It is claimed to have a range of 170km between charges and a top speed of 100km/h.The company adds that with snow tyres and the heater running, it has an estimated range of 90km.
Jan-Olaf Willums, president of Th!nk Nordic, says that the City will cost about NOK 200,000 (US$32,596) in Norway. Buyers can pay an additional NOK 1,000 (US$162) per month for a battery upgrade package.
Willums says that production of the Th!nk City will begin in the third quarter of 2007. The company plans to build 3,500 cars in 2008, mostly for sale in Norway, though some cars will be exported to the Netherlands, Denmark and the UK from late 2007 with US sales scheduled for 2008.
The Aurskog-based company raised US$25m in February from Norwegian and US investors and aims to double that amount by May. The company's president added that the company "may opt for an IPO (initial public offering)."
The Th!nk City was originally launched in 2000, with the company bought by Ford and the cars sold briefly in the US. Th!nk was then sold to Singapore-based Kamcorp in January 2003. The company changed hands again, following this, eventually going bankrupt in February 2006.
Published on Tuesday, March 13, 2007
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