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Non-Tech : Another Investment forum

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To: greatplains_guy who wrote (111)	3/6/2008 9:14:34 AM
From: greatplains_guy	of 340

GE bets $24M on electric cars: Battery research set for the GE Global Research Center in Niskayuna [Albany Times Union, N.Y.] Mar. 6--NISKAYUNA -- General Electric Co. is investing $24 million in two companies that are developing technology for innovative plug-in electric cars. The deal includes research on lithium-ion batteries for the vehicles that will be done at the GE Global Research Center in Niskayuna. The car manufacturer is a Norwegian company called Think that on Wednesday launched a new car called the Think City, a plug-in electric car that can travel 124 miles with a fully charged battery. The Think City is Think's fifth-generation car, and there are currently 1,200 of the company's previous models on the road in Norway. The company announced the launch of the Think City on Wednesday at the 78th International Motor Show in Geneva, Switzerland. Think spokeswoman Ingvil Ladehaug said the cars will "eventually" be sold in the United States. She couldn't immediately provide a retail price. At the same event, Think also revealed a concept car similar to a small sport utility vehicle. GE Energy Financial Services is giving $20 million to Think and $4 million to a Boston-area company called A123Systems that provides lithium-ion batteries to the Think City. Those announcements were made by GE Wednesday at the Washington International Renewable Energy Conference in Washington, D.C. Research between GE and A123Systems will also take place in Niskayuna, where GE already has its own advanced battery lab. "This is new joint research," said GE Global Research spokesman Todd Alhart. Rulison can be reached at 454-5504 or by e-mail at lrulison@timesunion.com. To see more of the Albany Times Union, or to subscribe to the newspaper, go to timesunion.com.

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