BUSINESS

Low-Cost Electric Cars On The Way

04/30/2008 05:12 am ET | Updated May 25, 2011

Norwegian automaker Think Global said Monday it planned to sell low-priced electric cars to the masses and will introduce its first models in the U.S. by the end of next year.

The battery-powered Think City will be able to travel up to 110 miles on a single charge, with a top speed of about 65 mph, the company said. It will be priced below $25,000.

Oslo-based Think said venture capital firms RockPort Capital Partners and Kleiner, Perkins, Caufield & Byers had made investments to fund its entry into the U.S. under the auspices of Think North America.

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