Think City EVs like this model at recent event in  Monaco are headed for U.S.

By John O'Dell, Senior Editor

Think is back, part of an apparent resurgence of interest in battery-powered electric cars.

The Norwegian electric car maker, once owned by Ford and headquartered, briefly, in Southern California, has announced formation of Think North America with plans to begin selling a sub-$25,000 EV in the U.S. in 2010.

Think Global Chief Executive Jan-Olaf Willums hinted at the company's North American plans in an interview last month with Green Car Advisor.

On Monday, the plan was rolled out, revealing that Think is partnering with two major venture capital firms to form the new subsidiary.

The move signals a new level of interest in battery-powered electric cars, once thought to be the vehicles that would help free the U.S. from its dependency on oil but abandoned by regulators and major automakers in the late 1900s as impractical because of cost and between-charge range restrictions.

Soaring fuel prices, growing concerns about energy security and advances in storage battery technology have helped reignite interest in EVs.

Think North America will be a joint venture of Think Global and venture firms Kleiner Perkins Caufield & Byers and RockPort Capital Partners. Each of the venture firms will hold a 25 percent share and Kleiner Perkins managing partner Ray Lane will chair the new company.

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By Nick Kurczewski, Contributor

MONTE CARLO, Monaco -- Whirring silently past luxury hotels and multi-million dollar yachts, the Think City electric car seems a mighty strange fit in the ritzy confines of Monte Carlo.

True, it does have a sporty two-seat lay-out. But we’re pretty sure the boxy little Think doesn’t stand a chance against the shrieking Ferraris that are as popular as toy-poodles amongst the Monegasque populace.

Thankfully, we’re not here to impress the locales.

The EVER Monaco ecological car exhibition allows a first-hand and behind-the-wheel glimpse at the present and future of green-car technology. During this yeasr's show, held last week, Think Global invited us to take the company’s latest creation for a quick test-drive through Monte Carlo.

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