GE invests in Think electric car and A123 Systems
In two connected investments, General Electric has put $4 million into Think, a Norwegian electric car manufacturer, and $20 million into A123 Systems, which manufactures batteries that are used in the cars.
Both companies are already well funded. Think has taken over $80 million to date and A123 has topped $150 million (past coverage here). The new investment by GE makes it the single largest shareholder in the latter company.
A123 is also planning an IPO sometime in the next year, and Think is preparing to roll out the Think City in Europe.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.