THINK survey shows prospective EV owners likely to accomodate short range if the car is cheaper -- They funded a study conducted by some MBA students which found a fairly obvious thing. That customers are willing to pay more for a bigger battery pack, or they're willing to get a shorter range car for cheaper.
That kinda goes against the conventional wisdom that people demand a 300 mile range and instant recharge. That supposed requirement is one of the things which has kept electric cars out of our hands. The THINK study showed customers willing to adopt a reasonably good range electric car, and willing to trade cost and range capability.
THINK receives $40 mil in further funding, and gains new Chairman -- This is big news for Think. The company now has the full funding required to follow through on their business plan and go to larger scale production. They're expecting to sell up to 500 cars in the U.S. in 2010 and to begin production at a plant in Elkhart Indiana in 2011.
Think has gone through so many flameouts and rebirths they should be the ones bearing the name "Phoenix Motorcars". But that's a different company. I first heard of Think in late 1990's and fell in love with the concept of this small car, no bigger than ones true needs, and completely recyclable.
Some of those cars were imported to the U.S. as part of a test program, and I got to ride in one once. Think did spend a period being owned by Ford - and there were two cars under the Think brand during that time. One was a golf-cart-GEMCAR-style vehicle, and the other was the PIVCO/Think City of that era. It's the PIVCO car that I loved, the GEMCAR-style just leaves me cold. Unfortunately these cars were under a lease and were among the cars subject to the lease-recall-and-crush strategy that befell the other electric cars of the previous era.