THINKâ„¢ Delivers Its First U.S.-Built Electric Cars

THINKâ„¢ Delivers Its First U.S.-Built Electric Cars

INDIANAPOLIS, Dec. 17, 2010 /PRNewswire/ — THINK(TM), the world’s leading
dedicated electric vehicle maker, has delivered its first U.S.-built cars to the
State of Indiana for use in its government fleet. The 15 vehicles, which were
shipped from THINK’s manufacturing facility in Elkhart, Ind., will be the first
electric passenger vehicles with American-made, Lithium-ion batteries used in a
U.S. fleet operation.

“We’re proud to be the first manufacturer to deliver an all-electric car built
in the U.S. with an advanced battery that suits the needs of government and
commercial fleet operators,” said THINK CEO Barry Engle. “Our delivery today is
part of a larger effort to help transform the U.S. light-duty vehicle fleet from
one that is mostly dependent on imported oil, to one that is fueled entirely by
domestically produced electric energy.”

“As part of that goal, we’ve made a strategic decision to target initially the
many millions of fleet vehicles in operation in the U.S. market,” Mr. Engle
added. “These fleets can jumpstart vehicle electrification in America’s cities
and help push the industry past early adopters into mainstream consumer markets.
Fleet sales will drive up vehicle and battery production volumes and drive down
costs, which will benefit retail consumers.”

The economics of electric vehicles for fleet operators in terms of cost of
ownership are highly positive. With defined travel routes and centralized
recharging and service, fleets are the natural platform to launch this new
industry.

The THINK City model is an all-electric, zero-emission car designed in
Scandinavia for fleet applications and urban commuters. Durable, highly
maneuverable and with low maintenance, the THINK City can travel 100 miles on a
single charge, using advanced Lithium-ion batteries manufactured in Indiana by
Ener1, Inc. The vehicle has accumulated more than 35 million road miles in
customer experience since it was first safety certified in Europe in 1999.
The vehicle presentation took place today at Fort Harrison State Park outside of
Indianapolis and was presided over by Governor Mitch Daniels. The cars were
delivered to the Department of Administration and will be used principally by
the Department of Natural Resources in the state’s park system.

“THINK found a great place to establish its business in Elkhart, and we’re proud
to be the first customer,” said the governor. “We believe that the coming era of
electric cars, like the THINK City, will find its home here in Indiana.”
Indiana Department of Administration director Rob Wynkoop, whose agency
maintains the state vehicle fleet, said: “We saw this specific green initiative
as an opportunity to test alternative energy vehicles in real-life situations.
We believe the state parks provide the best locations to test these vehicles.”
Mass deployment of electric vehicles in the state of Indiana is being
facilitated by Project Plug-IN, an initiative organized by the Energy Systems
Network (ESN), which is creating one of the most advanced ecosystems to support
electric transportation in the country.

By early 2011, ESN will place 100 or more electric vehicles and supporting
charging infrastructure with government and corporate fleets, as well as
selected individual commuters, across the Indianapolis metropolitan area.
Project Plug-IN enlists a wide range of industry and government partners to
solve technical and regulatory challenges related to preparing communities for
electric vehicles and is helping lead the national government-industry dialog to
develop deployment community strategies.

“Our goal with Project Plug-IN is the seamless transition for consumers from
gas-powered to electric cars,” said ESN President and CEO Paul Mitchell. “To
make this happen requires collaboration among vehicle and battery makers,
utilities and government agencies at all levels and the willing participation of
fleet operators, like the Department of Administration. The response so far has
been tremendous.”

THINK plans to roll out retail distribution in select U.S. cities in the second
half of 2011. The retail distribution timeline coincides with the company’s
plans to expand the production line at its Elkhart facility, where the company
currently employs more than 25 local workers. By the end of 2011, THINK will
have more than 100 people in Elkhart building electric cars and more than 415 by
the end of 2013. The company also builds the THINK City in Finland for sale in
Europe.

About THINK

THINK is the world’s leading dedicated electric vehicle manufacturer, developed
and proven over 20 years. This heritage gives THINK a head start with having put
nearly 10,000 electric vehicles on the road and accumulated more than 35 million
road miles of customer experience. The THINK City, the first electric car to be
granted pan-European regulatory safety approval, is sold across Europe, with
sales and production in the U.S. and operations being developed in Asia.
THINK is also a leader in electric drivetrain technology, and was the first to
offer a modular and flexible electric drive-train solution in the
business-to-business sector. With its Scandinavian origins and sustainability
mindset, THINK is one of the most carbon-efficient car companies in the world.

About Project Plug-IN

Project Plug-IN is an industry-led, commercial-scale pilot of plug-in electric
vehicles and smart grid technology to demonstrate an energy efficient
transportation solution for the Indianapolis area. The project includes vehicle
and battery manufacturers, electric utilities, smart grid technology firms and
research institutions. They are working collaboratively to build a plug-in
ecosystem that provides an optimal test bed for accelerating the
commercialization of plug-in and smart grid technologies. Phase 1 of the project
will include the deployment of more than 100 plug-in vehicles and 250 charging
stations across the Indianapolis region by early 2011.

Project Plug-IN is an initiative of the Energy Systems Network, a non-for-profit
industry consortium focused on the development of the energy technology sector.
www.thinkev.com