Monday, April 21, 2008 KP backs electric cars

Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers is joining with another clean-technology-focused venture capital firm and a Norwegian company to bring electric cars to the USA.
The joint venture's first product will be Think City, an emissions-free, 95% recyclable car with a maximum speed of 65 miles an hour.
Plans call for a U.S. launch in 2009. The cars will be priced below $25,000.
Kleiner Perkins is teaming with Boston-based RockPort Capital Partners and electric-carmaker Think Global to create a company called Think North America.
Now made in Norway, the Think City — about the size of a Toyota Yaris or Honda Fit — runs on sodium or lithium batteries and can travel up to 110 miles on one charge, making it viable for the average American, who commutes 30 miles a day."

No comments: