Think Global Selects Li-ion Supplier

Think Global of Oslo, Norway, has selected EnerDel of Indianapolis, Indiana, as the supplier for prismatic Li-ion batteries that will power its Th!nk City electric vehicle. EnerDel’s Li-ion solution for the electric vehicle drive train is designed to have higher energy density than HEV cells and to enable vehicles to last up to 100 miles (160 kilometers) without recharging.

Under the agreement, EnerDel must deliver production prototypes in March 2008 and pre-production parts in July 2008, with a value of approximately $1.4 million. Once these milestones are met, production orders under the contract are expected to result in EnerDel battery sales of $70 million over the two-year period ending in 2010. Under Think’s growth plan, the total value of the contract could eventually exceed $200 million.