GE invests in electric vehicle-maker Think, battery-maker A123Systems

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/247037609/

Filed under: Transportation

It looks like electric vehicle-maker Think and battery manufacturer A123Systems have each gotten a pretty big shot in the arm courtesy of GE, which has announced that it's investing in both companies with the goal of making "electric transportation practical and affordable." For Think's part, it'll be receiving some $4 million from GE, which'll apparently be used at least in part to get its TH!NK Ox electric five-seater (pictured above) out the door (t's already in production in Norway). A123Systems, on the other hand, has signed a commercial supply agreement with Think to supply it with Nanophosphate lithium-ion batteries, and it's already received a hefty $20 million from GE (which it's now doing some joint research with). That's all apparently only part of GE's grander plans, which it describes as nothing short of "efforts to enable global electrification of transportation." Be sure to hit up the appropriate link below for a video of some of what Think has in store.

Read- GE Press Release
Read - DN.no, Think video

[Via Autoblog Green, thanks Gunnar]

 

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