Metso's Valmet to start making Think electric car

Reuters    Translate This Article
28 August 2009

HELSINKI (Reuters) - Finnish Valmet Automotive, a part of engineering firm Metso, said on Thursday it had agreed with Norwegian Think Global AS to start manufacturing its Think City electric vehicle this year.

Valmet said in a statement the deal included production, engineering and logistics of the urban car, with planned production volumes at several hundred thousand cars per year.

The firm said it would invest around 3 million euros ($4.27 million) to start production, and that the project would employ 50 staff this year and more than 100 in 2010. Valmet, which is currently making Porsche's Boxter and is set to start manufacturing the Fisker Karma hybrid vehicle, also said it would become a minor shareholder in the Norwegian firm.

(Reporting by Eva Lamppu; Editing by Rupert Winchester)

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