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Think Global to Build and Sell Electric Cars in USA

Ray Lane, managing partner of venture-capital firm Kleiner Perkins, Caufield and Byers, which has invested in Think, believes Think could eventually sell as many as 30,000 to 50,000 City cars a year.

Published: 02-Jun-2008

DETROIT – Norway's Think Global AS, with backing from U.S. venture capital investors, plans to produce and sell a small all-electric car in the U.S. that could go as far as 110 miles when fully charged – fresh evidence that the race to woo American consumers with electric cars is heating up and drawing interest from the same investors that helped build Silicon Valley.

See also: Return of the Think

The Oslo-based electric carmaker, which recently set up a U.S. office in Menlo Park, Calif., is trying to determine what geographical areas to focus its sales activities on, with an aim to launch the car – the Think City – in 2009. Think, a Ford Motor Co. unit until the U.S. auto maker sold it to a Norwegian company in 2003, is also searching for a site in the U.S. and Mexico to assemble the car.

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