THINK City EV to be Built in Elkhart County, Indiana

January 6, 2010 – Vol.14 No.42

THINK City EV to be Built in Elkhart County, Indiana.

THINK, of Oslo, Norway which will begin selling its THINK City in the US later this year, has announced that it plans to invest $43.5 million in building improvements and equipment in Elkhart County in a plant that could begin assembling vehicles in early 2011. THINK’s investments in Elkhart County will support manufacturing capacity for more than 20,000 vehicles a year.

The THINK City is a purpose-built, all-electric car designed for urban environments. It can travel at highway speeds for more than 100 miles on a single charge with zero local emissions.

The company started delivering the latest generation of its THINK City model to customers in Europe in December. European production of the THINK City is already underway in Finland with manufacturing partner Valmet Automotive, which also assembles the Porsche Boxster and Cayman models for Porsche AG.

THINK is joining Indianapolis-based lithium-ion battery maker, EnerDel in choosing Indiana for a North American manufacturing location. Ener1, the parent company of Enerdel, is a 31% equity stakeholder in THINK. In addition to incentives provided by the State of Indiana and Elkhart County, THINK plans to utilize funding from the U.S. Department of Energy ATVM loan program to establish its new production facility. (1/5/10)

Links:

THINK North America
http://thinkev.com

THINK (Norway)
http://www.think.no

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No