Green Car Advisor
Think
November 18, 2009
Norwegian electric-car maker Think has plans to launch its vehicles in the United States and has picked a site in Indiana for its U.S. manufacturing facility, Reuters news service reported Tuesday, citing a major investor in the company.
The exact location and other details will be announced in a few weeks, said Charles Gassenheimer, chairman and chief executive of lithium-ion battery maker Ener1 Inc, which has a 31 percent stake in Think and has had financial problems of its own.
Think had said previously it was exploring the opportunity to launch its vehicles in America and was considering opening a new U.S. manufacturing plant and technical center.
Gassenheimer declined to give more details on Think's plans in the American market, but said the carmaker has applied for a U.S. government loan under a program set up to encourage production of fuel-efficient vehicles.
The loan application is in the initial stages, Gassenheimer said in an interview with Reuters.
Ener1, which also has a battery supply agreement with Think, took a stake in the automaker this year after the Norwegian company went on a fund-raising round to save itself and exit bankruptcy-court protection.
U.S.-based Ener1 gave Think another lease on life by agreeing to invest about $18 million in three tranches and convert $3 million in debt into preferred shares of the automaker.
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- Scott Doggett November 18, 2009, 10:37 AM
- Categories:
- Emissions, Ford, Plug-ins and Electric, Think, Toyota
- Technorati Tags:
- Ford
, Norway, Plug In EV, Plug-in Electric Vehicle, Think City EV, Toyota, Zero-Emissions
November 5, 2009
Think City electric cars on the road at Valmet Automotive production plant in Finland.
As it prepares to move its manufacturing operation from its own facilities in Norway to a contract builder in Finland, a post-bankruptcy Think is cranking up its publicity engines.
The 18-year-old company, which has an agreement with investor Valmet Automotive to have the Finnish engineering and auto manufacturing services provider take over production of the plastic-bodied "urban EV," is showing a ready-for-market model at this weekend's Helsinki Electric Motor Show.
The car, primarily sold to utility and government fleets participating in electric vehicle test programs, is intended for public sale once Valmet production begins.
Think - once owned by Ford Motor Co. - also has plans to launch sales and manufacturing operations in the U.S., where battery supplier Enerdel and its parent, Ener1, are headquartered (Ener1 is also Think's largest single stakeholder).
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- John O'Dell November 5, 2009, 9:58 AM
- Categories:
- Plug-ins and Electric, Think
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- EV
, Think City EV
October 19, 2009
Norwegian EV-maker Think says it will resume production next month after more six months of financial turmoil that idled manufacturing.
But the new plastic-bodied Think City car (right) won't be built in Norway. Production is moving to Finland where investor and contract auto builder Valmet Automotive will assemble them along with the Boxters and Caymens it now builds for Porsche. Valmet also has the contract to build the Fisker Karma exotic plug-in hybrid for Southern California-based Fisker Automotive.
Think Sales Director Richard Walz told Automotive News Europe that the company hopes to have 4,600 cars built next year, to supply government and private customers.
The company, which also has plans to build and sell its highway-legal Think City electric car in the U.S., said it has accumulated 2,300 orders - almost 80 percent for government fleets in Europe.
Fun and Practical
Green Car Advisor hasn't been able to wrangle seat-time in one of the company's cars since it was owned by Ford Motor Co. (which bought Think in 1999 and sold it in 2003), but we can report that back then it was a fun, practical little runabout, with a range of 50 miles and a top speed of 55 miles an hour. That range has been doubled since then with advanced lithium-ion batteries.
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- John O'Dell October 19, 2009, 9:28 AM
- Categories:
- Plug-ins and Electric, Think
- Technorati Tags:
- EVs
, Think City, Think Electric Cars
August 27, 2009
Company's U.S. Sales, Production Plans Said to be 'On Track' for 2010
Norwegian EV-maker Think said this morning that it's debt repayment plan has been approved by that country's bankruptcy court, an action that will enable the 19-year-old company to get back to business.
In a statement released this morning, Think CEO Richard Canny called the ruling "the final step in our return to normal operations."
The often-troubled company, once owned by Ford Motor Co., makes the Think City EV, a plastic-bodied two-seater with a range of up to 110 miles and a top speed of about 60 mph.
Canny said the company has secured a $47 million capital infusion as part of its revitalization, with Ener1, parent company of Think battery supplier EnerDel, boosting its stake in the EV company to 31 percent.
New investors include Investinor, an investment fund backed by Norway's government, and Finland's Valmet Automotive - the engineering and manufacturing services company that is building the new Fisker Karma plug-in hybrid and will become Think's manufacturing partner as pat of the deal. Valmet also builds Boxter and Cayman models for Porsche.
As part of the deal with Valmet, Think will suspend production at its Norwegian facility, laying off 85 workers.
Canny said in his statement that the new funds and manufacturing contract means that the company will be able to begin delivering Think City models to customers by the end of the year.
He said the company will be sending the "coming months" setting up the Finnish manufacturing operations and revitalizing Think's European sales organization, but didn't mention the company's U.S. operations.
A spokesman for Think North America, located in Dearborn, Mich., said, though, that the company is "on track" to begin U.S. sales next year and contrinues working with the federal Energy Deparptment on its application for an advanced technology vehicles manuifacturing loan to finance a U.S. manufacturing pant.
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- John O'Dell August 27, 2009, 9:59 AM
- Categories:
- Plug-ins and Electric, Think
- Technorati Tags:
- Electric Car
, Ener1, EnerDel, EVs, Think, Think City
April 1, 2009
Norway's Think Global
says the Austrian government has taken delivery of the first of scores of Think City electric cars it will be using in a nationwide EV test program.
Austria is using the electric cars as part of a program to determine the energy and climate impacts of smart electrical metering and the impact of electric vehicle charging on the country's power grid.
In all, the program will place 100 electric vehicles from various manufacturers into service. Think says it expects to supply the majority of the fleet.
In addition to building awareness of EVs and developing valuable data on their use, reliability and daily charging needs, projects such as this help struggling independent EV makers such as Think improve their financial situation by creating a market for the first cars in advance of any public demand.
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- John O'Dell April 1, 2009, 4:07 PM
- Categories:
- Plug-ins and Electric, Think
- Technorati Tags:
- Electric Vehicles
, EVs, Think City Car
March 12, 2009
Electric car builder Think
unwrapped its plans for the U.S. today and, as we suspected
, said that an ambitious goal of building a manufacturing plant here and churning out lots of its cars for U.S. buyers to enjoy will be heavily dependent on the federal government's willingness to give the struggling company a loan.
Norway-based Think Global's chief executive, Richard Canny, said the company has received an additional equity investment from the Kleiner Perkins Caufield & Byers venture capital firm after filing for Norway's version of Chapter 11 reorganization late last year.
But to fund a U.S. manufacturing operation apparently will take more than the venture community is willing, or able, to cough up, so Think will file an application at the end of the month for a loan from the Department of Energy under the Advanced Technology Vehicles Manufacturing Loan program.
While the scope of U.S. operations is dependent on receipt of a federal loan, a Think spokesman told Green Car Advisor that the company believes it still well be able to finance a U.S. operation and sell cars here if the loan application is denied.
The company said during its press conference at the Michigan Information Technology Center that Think executives are talking with representatives of eight states about incentives they'll offer to win an electric vehicle manufacturing plant.
The company said it expects to have winnowed the field down to two finalists by the end of the month and then it is just a matter of waiting for the feds to decide on the loan (a process than could take months if the ongoing processing of loan applications filed last year by other automakers, ranging from General Motors Corp. to Tesla Motors, is any indication).
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- John O'Dell March 12, 2009, 4:05 PM
- Categories:
- Plug-ins and Electric, Think
- Technorati Tags:
- Electric Vehicles
, EV, Think
March 6, 2009
Struggling Norwegian EV maker Think
, which has managed to stay alive
after filing for bankruptcy in December, is holding a press conference in Michigan next week to announce a plan to manufacture its plastic-bodied city cars in the U.S.
The company, which has a history of ups and downs - mostly downs - recently received a bridge loan of $5.7 million from investors led by the equity firm Ener1 Group, which holds the controlling stake in Think's battery supplier Ener1.
An outside spokesman for the company said today that Think is "in the process of re capitalizing" and is "refocusing ... and wants to bring its manufacturing to markets where it would make sense to do so."
That means, we think, that Think is looking for government aid - and in the U.S. there's the potential of a lot of federal and state aid for an electric car maker that already has all the parts, plans and processes and just needs a factory, suppliers and some funds to get rolling.
In any event, Think's press conference on Thursday will center on the company's meeting in Ann Arbor, Mich., with representatives of that state and seven others" to discuss options to bring electric vehicle manufacturing jobs to the U.S.," the company said today.
Think also said today that is still plans to launch U.S. sales by the middle of next year. The company now has a 2-seat city car and intends to launch a 4-seat version later this year - if funding holds out.
Stay tuned.
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- John O'Dell March 6, 2009, 12:40 PM
- Categories:
- Plug-ins and Electric, Think
- Technorati Tags:
- Electric Cars
, Electric Vehicles, EVs, Think
January 26, 2009
Norwegian electric-vehicle startup Think Global was dying the last time we took a look
at the company, all of five weeks ago.
----------
R.I.P.: Think's adorable City EV.
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Since then, the company did in fact go belly up. Today, The Wall Street Journal published a story on Think's demise (subscription required) as "a cautionary tale about automotive start-ups."
The entire story can be summed up in one sentence:
Making cars requires lots of parts, a long and complicated supply chain, tons of money, and if the company doesn't have access to tons of money, it could die.
The story ain't no "thought piece," but this quote three paragraphs from the top gave us pause:
"We were so close to break-even and being cash-flow positive," said Think Chief Executive Richard Canny. "It doesn't seem right that the traditional auto companies are getting massive public money to stave off their decline, while newcomers in the electric-car space are being starved of capital."
He's right, of course. Venture capital for EV makers is as easy to come by these days as an EV1, yet old, struggling automakers that produce oil-dependent rides are being tossed lifelines by governments on at least three continents.
The world needs more Thinks, not fewer. What happened to that innovative company is a crying shame.
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- Scott Doggett January 26, 2009, 3:07 PM
- Categories:
- Emissions, Fuel Economy, Plug-ins and Electric, Think
- Technorati Tags:
- Electric Vehicle
, EV, Think Global
January 8, 2009
By John ODell, Senior Editor
Advanced automotive battery developer A123 Systems has plunged into the government funding pool with an application for $1.84 billion in loans to help build several lithium-ion battery plants in the U.S.
The 7-year-old company is seeking the loans from the $25 billion Advanced Technology Vehicles program recently funded by Congress.
The so-called retooling loans are available to help automakers and automotive parts and components makers retool existing plants or build new ones dedicated to building more fuel-efficient vehicles.
In a statement issued Wednesday, A123 said that, if granted, the loans would help it "dramatically expand production capacity" to supply battery systems for up to 5 million conventional hybrid vehicles or 500,000 plug-in hybrids a year by 2013.
Fierce Competition
The company is one of dozens, in the U.S. and abroad, racing to develop powerful, reliable battery systems that will underpin the new generation of electric and hybrid-electric vehicles being worked on by automakers around the globe.
A123 Systems uses a proprietary nanophosphate chemistry to produce lithium-ion batteries. It's technology builds on work initially done by researchers at the Massachusetts Institute of Technology, where one of the company's three co-founders is a professor. Another is an MIT business school graduate.
The Massachusetts-based company was in a "quiet period" imposed by securities regulators prior to its proposed initial public offering and would not make any executives available for comment.
But in Wednesday's prepared statement, company CEO David Vieau said the auto industry is "entering a new phase...where we increase the electrification of vehicles, reducing consumption of gasoline though advanced batteries."
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- John O'Dell January 8, 2009, 3:00 AM
- Categories:
- Batteries, Chrysler, Ford, Fuels & Technologies, General Motors, Hybrid, Plug-ins and Electric, Think
- Technorati Tags:
- A123Systems Seeks Federal Loan
, Advanced Technogy Vehicles Loan Program, EV Batteries, Hybrid Batteries, Lithium Ion Batteries
December 16, 2008
Just look at Ener1, the Manhattan-based developer of lithium-ion batteries, wrote David Reilly in today's Wall Street Journal
(subscription required).
The company isn't yet profitable and sales this year have yet to break the $1 million mark. Yet Ener1 sports a roughly $900 million market value and is among only a handful of big U.S. companies with a stock price up more than 50 percent over the past 52 weeks.
The reason? Investors are hoping Ener1 will cash in on a move to electric cars. On the firm's third-quarter conference call, Chief Executive Charles Gassenheimer said the U.S. elections "will promote an energy policy that puts a gale-force wind at our back."
Maybe. But it is early in the race to develop electric vehicles, or EVs. Much can go wrong along the way, including a risk that lower oil prices reduce the political will for a big shift in car technology.
And Ener1 faces a more immediate problem, Reilly wrote. Its biggest customer for car batteries is skidding.
As we reported Monday, the Norwegian EV-maker Think said that the financial crisis has "severely impacted" its ability to raise capital to expand production. As a result, it is extending a Christmas production shutdown until the end of January and trying to secure Norwegian government assistance, which, as we reported, was almost immediately denied.
Think also said it planned to explore a "partial or full sale to a strategic partner."
Ener1's Gassenheimer on Monday acknowledged financial distress at a key customer is "not good news." But he said that a $34 million purchase order from Think for 2009 "has not been rescinded."
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- Scott Doggett December 16, 2008, 3:39 PM
- Categories:
- Batteries, Emissions, Fuel Economy, Hybrid, Plug-ins and Electric, Think
- Technorati Tags:
- Electric Vehicle
, Ener1, EV, Lithium-Ion, Think
December 15, 2008
The Norwegian government today denied electric-car startup Think financial aid it had requested, possibly dooming the Norwegian EV company that once belonged to Ford Motor Co.
The denial was reported by dagbladet.no and translated to English for our edification by translation-guide.com.
Oddly, the news comes only a couple of weeks after Think announced plans to double production early next year of its plug-in electric two-seater Think City and then double it again as it launches a European marketing drive.
Like many other car companies in recent years, privately-held Think said it had difficulties in obtaining working capital and that automotive suppliers offered tougher terms on parts.
"We are in a very serious situation," Chief Executive Richard Canny told a news conference this morning. He said the company would probably not survive without the government's help, and soon thereafter the government denied it.
Canny said Think needed 100 million to 200 million crowns ($14.5 million to $29 million) in the short term through guarantees, but declined to be specific on total capital needs for its planned expansion.
Think said it would temporarily stop production at its Norway plant and lay off 50 percent to 70 percent of its approximately 250 employees while sorting out its financial problems.
Think has gone bankrupt twice, most recently in 2006, but found new life with the backing of new owners and investors.
"I honestly think given what is going on in the capital markets it is going to be very difficult," Canny replied when asked whether it would make it without the government's help.
With one car model in production, the micro zero-emission Think City, the group had plans to ramp up production next year, launch the car in several European cities and set a date for its U.S entry.
Think City has been in production since late October, and the company produced between eight and 10 cars a day. It had aimed to reach 44 vehicles a day when running at full capacity sometime in 2009.
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- Scott Doggett December 15, 2008, 5:28 PM
- Categories:
- Batteries, Emissions, Plug-ins and Electric, Think
- Technorati Tags:
- Electric Car
, Electric Vehicle, Plug-In Electric, Think City, Zero-Emissions
December 2, 2008
Think, the Norwegian EV company that once belonged to Ford Motor Co., says it plans to double production early next year and then double it again as it launches a European marketing drive.
The company, which earlier this year opened a U.S. office in Northern California and said it will begin selling its City model (left) here by late next year, intends to increase production of its Think City model to 10,000 a year by the end of 2009, up from about 2,500 a year now.
Think said it will be targeting sales of the highway-legal City early next year to EV-friendly cities throughout Europe - cities that offer purchase incentives, tax breaks, free parking, transit lane access and other perks to drivers of electric vehicles.
Among the most highly rated by the company are Oslo, in Norway; Tel Aviv, Israel; Lisbon, Portugal, and Copenhagen, Denmark.
The model it intends to sell throughout Europe, the City, was developed by Ford for use in the U.S. before the company - under previous, short-sighted management - junked its EV program and sold Think in 2003. It is a plastic-bodied four-seater (seats for two adults and two children), is 95 percent recyclable, has a top speed of around 60 miles an hour and, Think claims, a range of up to 120 miles in slow-speed city driving.
Think, which was founded in Norway in 1991 has had two owners since Ford, which bought it in 1999. It is now owned by a private investor group headed by Norwegian internet millionaire Jan-Olaf Willums, who recently stepped down as chief executive officer, a post now held by former Ford global strategic planning director Richard Canny.
Equity investors include electronics giant GE
, and the fledgling U.S. operation is heavily funded by well-know advanced technology venture firms Kleiner Perkins Caufield & Byers
and RockPort Capital Partners
.
In addition to the City, the company has been developing a full-size, 5-passenger crossover SUV (right), code-named the Ox, for its electric vehicle lineup.
John O'Dell, Senior Editor
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- John O'Dell December 2, 2008, 12:50 PM
- Categories:
- Plug-ins and Electric, Think
- Technorati Tags:
- Electric Car Manufacturers
, Think
July 22, 2008
Soy foam in the seats the Ford F-150 pickups and Lincoln Navigator SUVs. Locally farmed hemp
, "ethically produced" woolen fabric and floor mats made of sisal in the Lotus Eco Elise.
Some automakers are increasingly going to great lengths to make the interiors of some of their models if not environmentally friendly, at least a bit wholesome.
But others, well...
Early today the Ecology Center of Ann Arbor, Michigan, posted its second-annual consumer guide to toxic chemicals in cars and children's car seats at www.HealthyCar.org.
More than two hundred 2008- and 2009-model-year vehicles and more than 60 children's car seats were tested for unhealthy chemicals that seep in gaseous form from the steering wheel, dashboard, armrests, seats and carpet.
The "new-car smell," as the gases are commonly called, mingle with the air occupants breathe and have been linked to allergies, birth defects, impaired learning, liver toxicity and cancer.
The Ecology Center reported that Mazda, General Motors and Nissan improved since last year's findings, with GM showing the greatest gains of the domestic automakers, with an average vehicle ranking improvement of 27 percent.
The list of the 10 best and 10 worst vehicles as picked by the Center appears in the chart above.
Average child-car-seat scores improved 28 percent overall. The list of 10 best and worst car seats for 2008 as picked by the Center appears at left. Click on the chart for a better look.
For more information, go to www.HealthyCar.org.
Below are the three worst 2008-model-year vehicles by interior pollution, according to the Center (click on each to enlarge). From left to right: Mitsubishi Eclipse, Suzuki Reno and Volkswagen New Beetle.
Below are are the three best vehicles by interior pollution, according to the Center (click on each to enlarge). From left to right: Acura RXD, Chevrolet Cobalt and Smart Passion Cabriolet.
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- Scott Doggett July 22, 2008, 12:21 AM
- Categories:
- Acura, Audi, BMW, Cadillac, Chevrolet, Chrysler, Daimler, Dodge, Emissions, Fiat, Ford, General Motors, Honda, Hummer, Hyundai, Jeep, Kia, Lexus, MINI, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Opel, Pontiac, Porsche, Renault, Saab, Smart, Subaru, Suzuki, Think, Toyota, Volkswagen, Volvo
May 29, 2008
EV-maker Think apparently has moved its anticipated U.S. launch up a bit and plans to add a crossover SUV to its electric vehicle lineup.
The Wall Street Journal finally got around to writing about the Norwegian electric car company's plans, and says Think CEO Jan-Olaf Willums hopes to begin sales of the two-seat Think City car in the U.S. by 2009...
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- John O'Dell May 29, 2008, 2:35 PM
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- Plug-ins and Electric, Think
April 22, 2008
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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- John O'Dell April 22, 2008, 12:10 PM
- Categories:
- Batteries, Plug-ins and Electric, Tesla, Think
April 3, 2008
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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- John O'Dell April 3, 2008, 4:15 AM
- Categories:
- Plug-ins and Electric, Think
Norwegian electric-car maker Think has plans to launch its vehicles in the United States and has picked a site in Indiana for its U.S. manufacturing facility, Reuters news service reported Tuesday, citing a major investor in the company. 
