Will a car, not really capable of comfortable highway driving speeds and not that great of a distance range, make it in the US market? A couple venture capitalists on the east and west coasts seem to think so. Th!nk, a Norwegian electric car maker is coming to the US and will be based out of Menlo Park, CA. No more than a stones throw from Tesla Motors over in San Carlos, CA.
The Th!nk City, due out in 2009, will have a top speed of 65mph and will have a range of 110 miles on a single charge, and designed to meet all U.S. federal motor vehicle safety requirements. It will be equipped with ABS and dual front airbags. The price is estimated to be below $25,000.
Th!nk, the Norwegian electric carmaker, secured funding from two U.S. venture capital firms to bring its business to North America. The financial backing—from Silicon Valley-based Kleiner Perkins Caufield & Byers and Boston-based Rockport Capital Partners—will allow Th!nk to set up shop in Menlo Park, California under the banner Th!nk North America. The company’s first production car will be the Th!nk City, a small all-electric vehicle capable of reaching 65 miles per hour and traveling up to 110 miles on a single charge.
