Electric Car Around the Corner - 2010 Think Global Ox

The electric car we need is just around the corner.

It seems that more automakers worldwide are committing to electric-powered cars. Word spreads of an Norwegian company, Think Global, entering the marketplace with a small, affordable electric car. The company is selling tiny electric cars in Europe and will be offering them in the U.S. in 2009.

Think Global recently showcased a new concept vehicle called the Ox. It is about the size of the Toyota Prius and can travel from 125 to 155 miles before it needs a charge. It speeds from 0 to 60 mph in about 8.5 seconds running on lithium-ion batteries that can be charged to 80 percent of capacity in less than one hour. The on-board electronics are powered by a solar panel that has been integrated into the roof. No one is sure of the price, but other Think Global vehicles have a price tag of less than $25,000.

Think Global has a business plan exemplifies saving it a lot of money. It designed an ultra-lean manufacturing system production facilities for about $10 million while competitors spend billions of dollars. The factories produce cars closer to their customers and cut transportation costs. Company execs say that Think Global would be profitable if it sells 10,000 vehicles a year.

This is definitely the right step towards next-generation technology and management. Maybe Detroit's Big Three can take a couple pointers.

source: businessweek