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Industrial giant General Electric has invested approximately £2 million into Think Global, the Norwegian company that specialises in electric town cars.
The investment exists, in part, to aid another investment by GE in lithium-ion battery maker A123 Systems. GE has invested £10 million into A123, which is working with General Motors on the Chevy Volt. Think, which has been getting its lithium-ion batteries from a company called EnerDel, has now signed a deal to also get batteries from A123.
Think started rolling cars off the production line late last year. The company's first car is a resurrection of an electric car Ford hawked last decade -- it goes 100 miles on a charge and is made for city driving. Think only sells the car in Norway but will expand to other cities in Europe and may bring it to the US in 2008 or 2009.
At the 2008 Geneva Motor Show this week, Think also introduced the Think Ox, the first five-seater electric car, and the Think City, a plug-in, "fully environmental vehicle" -- it's 95 per cent recyclable and is claimed to be emissions-free.
Prior to the GE investment, Think had raised £43 million. It's not cheap getting a car company off the ground.
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