Thinking In Norway
On November 28, 2007, the first production version Think City electric vehicle was completed on Think Global's factory assembly line located in Aurskog, Norway. The Think City is a two seat battery powered vehicle with an option for two additional child seats in a 2+2 configuration. The exterior body is covered with polymer plastic panels and the vehicle has a top speed of 100 kph (62 mph) and regenerative braking for recharging the batteries.
Think Global's Managing Director, Jan-Olaf Willums, is its driving force, and he has been able to draw the interest of the investment community to the company with large venture capital firms from London (British Hazel Capital LLP and CG Holding) and from the United States (DFJ Element and RockPort Capital Partners) part of a $60 million private placement in July 2007. Think Global now has a consortium contributed capital base of over $85 million.
The Think City vehicle has a driving range of 180 km (112 miles) in summer driving conditions with the air conditioning on. In the winter, the range is 90 km (56 miles) with the 3.5 kW heater on. To completely charge the car, it takes 10 hours, and for an 80% charge it takes 8 hours. Think contracted with Porsche Consulting to review the Aurskog factory in the fall of 2007 in order to help them create lean manufacturing, logistics, and quality processes for production. In 2008, the plant will be capable of ramping up to a full production capacity of 10,000 Think City's per year. By the end of 2008, there should be a significant number of Think City vehicles on the roads throughout Europe.