Th!nk still has pulse, Ener1 to purchase stake, may build in U.S.
Auto Blog: EV/Plug-in , Th!nk (Think) After its virtual collapse last month, there are now renewed signs of life at Norwegian EV maker Th!nk. Ener1 Group Inc., which owns 57 percent of U.S. battery maker Ener1, is one of the investors in Th!nk and Ener1 had been set to supply Th!nk with lithium ion battery packs for its City car, as well as future products. According to Ener1 CEO Charles Gassenheimer, the company is looking at significantly upping its ownership stake in Th!nk. Half of the $5.7 million cash infusion that Th!nk received in December came from Ener1 and Th!nk may need up to $40 million to get production going. Gassenheimer believes the company could easily sell 10,000 of the City cars annually in the U.S. In conjunction with the DOE loans that EnerDel has applied for to fund increased battery production capacity, Gassenheimer is looking at setting up Th!nk City production in U.S. as early as 2010. [Source: Electric Aid ] Th!nk still has pulse, Ener1 to purchase stake, may build in U.S. originally appeared on AutoblogGreen on Thu, 22 Jan 2009 16:04:00 EST. Please see our terms for use of feeds . Car Blog Green|Car Blog Green|Car Blog Green|Car Blog Green
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Th!nk still has pulse, Ener1 to purchase stake, may build in U.S.
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Leave a commentTh!nk saved by outside investors Ener1
Auto Blog: EV/Plug-in , European Union , Th!nk (Think) Click above for a gallery of the Th!nk City Th!nk’s not dead yet, though it might still officially be on life support. As expected , an outside group of investors has stepped up to the plate and bailed out the Norwegian electric car company with a bridge loan of 40 million crowns ($5.69 million). The largest bit of funding comes courtesy of Ener1 Group Inc. If that name sounds familiar, it’s because they’re the private equity firm that owns 57% of Ener1, which, in turn, is the maker of battery packs that are being used in the Th!nk City. This figure is short of the 100-200 million crowns that Th!nk’s administration said may be necessary for continued operation, but Th!nk’s Richard Canny says it gives them time to get final funding in place and to begin working back up to regular production. Ener1 Chairman and CEO Charles Gassenheimer told AutoblogGreen that, “Ener1 Group has been very interested in furthering its investments in Electric Drive, so this fits within our investment paradigm. The financial distress in December took all of us by surprise, so this is just a short term solution. This will give us until March to complete the larger round. This funding round will allow Think to start ramping up production as early as February, with an eye to getting back into full volume production by April.” Thanks to everyone who tipped this ! Gallery: Th!nk City [Source: Reuters ] Th!nk saved by outside investors Ener1 originally appeared on AutoblogGreen on Tue, 13 Jan 2009 19:07:00 EST. Please see our terms for use of feeds . Car Blog Green|Car Blog Green|Car Blog Green|Car Blog Green
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Th!nk saved by outside investors Ener1
Detroit 2009: Tesla talks Model S, Daimler deal and Roadster production update
Auto Blog: EV/Plug-in , Tesla Motors , Detroit Auto Show Click to enlarge We posted earlier today about what Tesla Motors’ CEO Elon Musk told us about the Model S and the deal with Daimler for the smart ed . Musk spoke at the Tesla Motors during a press conference here at the Detroit Auto Showthis afternoon and gave a little more information that’s worth sharing. First, the deal for the 1,000 smart eds we heard about earlier might only be the tip of the iceberg. Musk said that Tesla could supply the packs for “tens of thousands” of electric smarts if the testing of the first thousand goes well. Musk made it a point to add that he and Tesla are proud to be working with Daimler. One reason he worked to create Tesla Motors in the first place, Musk said, was to revolutionize electric car technology. This deal does exactly that, and we might soon hear more such announcements. Musk said Tesla is looking for another one or two strategic partners, either domestic or international companies, to work with. The whole Detroit vs. Silicon Valley thing is not the way to move forward, he said. There’s much more after the jump. Gallery: Detroit 2009: Tesla powertrain [Source: Tesla] Continue reading Detroit 2009: Tesla talks Model S, Daimler deal and Roadster production update Detroit 2009: Tesla talks Model S, Daimler deal and Roadster production update originally appeared on AutoblogGreen on Tue, 13 Jan 2009 18:16:00 EST. Please see our terms for use of feeds .Car Blog Green|Car Blog Green|Car Blog Green
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Detroit 2009: Tesla talks Model S, Daimler deal and Roadster production update
Seat introduces León Twin Drive Ecomotive hybrid concept
Auto Blog: EV/Plug-in , Volkswagen , European Union , SEAT Click on image for a hi-res gallery of the Seat León Twin Drive prototype SEAT has introduced a new concept, based on the current Seat León (which itself has a lot in common with the Audi A3) that sports an all-new plug-in hybrid powertrain. The model, called the SEAT León Twin Drive Ecomotive, has two driving modes: the car is equipped with a lithium-ion battery mated to a 35 kW (46hp) motor engine and is connected to an internal combustion engine. The all-electric mode has a range of 50 km (30 miles) with a maximum speed of 100 km/h (60 miles). The car was recently shown to the Spanish Minister of Industry who, not long ago, promised a million all-electric or plug-in hybrid cars on Spanish roads in 2012. That goal has been pushed back to 2014. SEAT, which is now the least successful brand in the VW group, hopes to do its part to be a part of this market, so a production version of the SEAT León Twin Drive Ecomotive could be available in 2014. Full press release after the jump . Gallery: Seat Leon Twin Drive Ecomotive [Source: SEAT ] Continue reading Seat introduces León Twin Drive Ecomotive hybrid concept Seat introduces León Twin Drive Ecomotive hybrid concept originally appeared on AutoblogGreen on Tue, 13 Jan 2009 17:23:00 EST. Please see our terms for use of feeds . Car Blog Green|Car Blog Green|Car Blog Green|Car Blog Green
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Seat introduces León Twin Drive Ecomotive hybrid concept
Honda talks more about its electric motorcycle plans
Auto Blog: EV/Plug-in , Honda , On Two Wheels Last month in his end-of-year speech, Honda CEO Takeo Fukui vowed that the Japanese company would release an electric motorcycle in 2010 . It’s been a few weeks and the import of that announcement has begun to sink in. Honda is the world’s largest cycle manufacturer, so an EV wearing the red badge is sure to inspire competition from the other established players. What’s more, as one of the world’s top automakers and the one that’s arguably most concerned with its environmental standing, the electron-powered two-wheeler could be a harbinger of things to come on the four-wheeled side as well. As if our interest weren’t already piqued, Honda has released another press release detailing its past eco-friendly motorcycle endeavors, which include hydrogen fuel cell-powered machinery, hybrids and fully electric concepts. After all of this testing, Honda says its electric motorcycle technology is suitable for both commercial and personal applications. Sounds great… just two more years to wait. [Source: Honda] Continue reading Honda talks more about its electric motorcycle plans Honda talks more about its electric motorcycle plans originally appeared on AutoblogGreen on Tue, 13 Jan 2009 16:38:00 EST. Please see our terms for use of feeds .Car Blog Green|Car Blog Green|Car Blog Green
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Honda talks more about its electric motorcycle plans
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