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Valmet rethinks City

restarts City EV production in as Valmet assumes manufacturing

14 December 2009

SCANDINAVIAN car-maker Think has recommenced of its pioneering City mini-car, time at the Finnish manufacturing of the rejuvenated company s new minor and strategic industrial partner, Automotive.

The Norwegian EV maker production of the City hatchback and off 50 per cent of its workforce at its Aurskog in Norway in December 2008, urgent financial distress .

following an investment of about 3 ($A4.83m) by Valmet — also produces the mid-engined and Cayman for Porsche — has commenced at the automotive engineering and specialist s Uusikaupunki factory in

Think CEO Richard Canny that first fleet deliveries of the born-again City, one of the s first urban EVs, take place before before Think expands on its order bank in Europe and

This is a very significant day for he said. We are back in production and I am so that some of our very customers can look forward to of their long-awaited Think before Christmas.

The order stands at around 2300 and our first priority is to deliver to customers now that our vehicles are off the production line again. Our priority is to build on this book with continued in Europe and around the world.

Our strategic alliance with Automotive is much more just about assembly. We are reaping the benefits of Valmet s in manufacturing and engineering, with being taken out of the production more manufacturing done on and an overall more efficient solution, from product support right through to assembly, said Mr Canny.

The of production at Valmet caps off a of restructuring at Think, with the EV company attracting new investors announcing its recapitalisation earlier in

This year also saw make a series of senior appointments from the automotive and sectors, win several major supply contracts and begin of the City in key European markets.

of Think s City have in Austria, Denmark, The Netherlands, Spain, Sweden and Switzerland, a majority of sales going to authorities and utility partners, by government incentives.

Th!nk City

Riding on a wheelbase and measuring a tiny long, 1604mm wide and high, the City first production in 2000 and was the world s EV to meet European CE certification and EU (M1) requirements.

While a rash of new EVs such as s Leaf will soon be a according to Think the City is one of two EVs to be crash-tested and highway-certified globally, from the Tesla Roadster.

The or 2+2 City, around just 100 of which were built, a top speed of 105km/h, 0-80km/h in 16 seconds and a round-town driving of 210km. Before options in it costs 199,000 Norwegian ($A37,800), plus about ($A185) per month to lease the


Valmet already has expertise in the EV but with the start of industrial of the Think City at our cutting-edge in Finland, we aim to become a leader in the said Valmet Automotive Ilpo Korhonen.

The start of production is a very step for both Think and and we aim to grow our strategic alliance the growth of the Think brand Europe as more deliveries of the awaited Think City are in the coming weeks.

A subsidiary of the Group, Valmet has produced than 100,000 vehicles in over the past 40 years, the Boxster/Cayman and, from year, the Garia golf From 2010, Valmet s facility will also the Fisker Karma electric sedan.

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