No more Ford Th!nk EV

[josh <joshl@myrealbox.com>]

http://biz.yahoo.com/rb/020830/autos_ford_think_2.html

Reuters Business Report
Ford Ending Investment in Electric Car 
Friday August 30, 9:49 am ET 

DETROIT (Reuters) - Ford Motor Co. (NYSE:F - News) on Friday said it was pulling
the plug on its Think electric vehicle division due to poor customer demand and
lack of government support for the environmentally friendly cars.
 
Ford, which bought Norway-based Think in 1999 for $23 million and invested $100
million in electric vehicle battery technology, will instead focus on developing
fuel cell and hybrid gasoline-electric vehicles to meet environmental
regulations for cars and trucks, spokesman Tim Holmes told Reuters.

"The bottom line is we don't believe that this is the future of environmental
transport for the mass market," Holmes said.

Ford will try to sell Think, or work with the Norwegian government to transform
the company to create a viable business, Holmes said. Ford hopes to make a
decision by the end of September on the future of Think, which has two
facilities outside Oslo and employs about 150 people.

Other automakers have also backed away from electric vehicles due to their low
range and long recharging times.