Green Wombat popped into the Cleantech Forum in San Francisco this afternoon, where venture capitalists, entrepreneurs and others are confabbing about the latest trends and opportunities in green technology. Among the more intriguing companies in town was Norway\'s Think. The automaker is building a two-seater electric runabout with a range of about 115 miles (185 kilometers) called the Think City. What\'s cutting edge about Think is not so much its technology as its business model. The company plans to sell its cars but lease the battery for either a monthly or by-the-mile fee. "By leasing the battery the consumer doesn\'t take the risk over the unknowns of battery life," said Think president Jan-Olaf Willums. Presumably, as battery technology advances, Think drivers can swap their power plants. "Our returns come from both selling the car and the services for which the car is the platform," he added. Among those services is a package that will include on-the-road WiFi, GPS navigation and a media player. "It Will be most IT oriented car on wheels," Willums claimed. He said Think will also offer short-term car sharing and a program to offset greenhouse gas emissions from the electricity used to power the vehicles. "We\'re moving from a car concept to a mobility concept. People look more and more at the full cost of ownership."Think_electric_car2_1 The company closed a $25 million round of financing earlier this month and expects to complete an additional $50 million round in a few months, which will allow it to begin selling cars in Europe by September, according to Willums. He said the company expects to start selling the Think City in the United States in 2008. The company launched in 1990 and Ford (F) acquired the startup in 1999. After producing about 1,000 electric cars, Ford sold Think to a Kamkorp Microelectronics. That company in turn sold Think to its current owners, a group of Norwegian investors led by Willums. So how does Think think it will succeed when automotive giants like Toyota (TM), Honda (HMC), General Motors (GM) and DaimlerChrysler (DCX) argue that the all-electric car is not ready for prime time? Think\'s answer is, dare we say it, think differently."We don’t have the baggage from Detroit," Willums said. Also, he noted that as global warming worries rise, European countries are offering financial incentives for electric car ownership, such as waiving thousands of dollars in taxes, registration fees and "congestion" charges imposed for driving in city centers. And driving small cars is nothing new in SUV-averse Europe. Then there\'s the jump start Ford\'s ownership gave Think. "We have today a fully developed and tested vehicle," Willums noted. "We were so lucky Ford spent a fortune on a very good car before they pulled out. Thanks to Ford\'s $150 million investment, we can introduce a modern city car in 2007 that meets the growing demands of the market."
Range of 115 miles? That won\'t get you to and from many shows.
115 miles is more than enough for most people to go to work and back.
Quote from: wildcoyote;140581115 miles is more than enough for most people to go to work and back. But what does 115 signify? An estimate? What if a commute is a highly-congested 100 miles, averaging 25 mph on the highway? Will the battery persevere for 115 miles under any circumstances?
Quote from: alexanderzurflu;140594Quote from: wildcoyote;140581115 miles is more than enough for most people to go to work and back. But what does 115 signify? An estimate? What if a commute is a highly-congested 100 miles, averaging 25 mph on the highway? Will the battery persevere for 115 miles under any circumstances?i was thinking the same thing..
Quote from: Todd;140512Range of 115 miles? That won\'t get you to and from many shows.Apparantly that isn\'t a problem with Jordan out of the picture.I wonder how long it will take for battery with a much longer range to debut?
