Monday, April 21, 2008

Kleiner, Rockport Launch Electric Vehicle Joint Venture

Norwegian electric car producer Th!nk, and venture capital investors Kleiner Perkins Caufield & Byers and RockPort Capital Partners said Monday that they have established a joint venture to create electric cars for the North American market. Th!nk said that it will open up a Menlo Park-based office as part of the joint venture, which will launch Th!ink's electric vehicles in the U.S.; the firm's TH!NK city vehicle has a range of 110 miles and a top speed of 65 miles per hour. TH!NK says that the car meets all European and U.S. federal motor vehicle safety requirements. General Electric is also an investor in the firm. Financial terms of the joint venture were not announced. More information »