International Newsmaker Q&A: Brendan Prebo

Brendan Prebo is a spokesman for THINK North America, the U.S. subsidiary of THINK, based in Oslo, Norway. He recently discussed December’s American rollout of the THINK City electric vehicle:

How does the U.S. version of the THINK City differ from the cars sold in Europe?

There are some minor differences between the U.S. version and the European version, such as different headlights and rear lights, instrument cluster; and the U.S. required a tire pressure monitoring system (TPMS). For the most part, customers won’t notice the differences.

Are you initially targeting fleets or consumers with the American rollout?

We are initially targeting fleets and expect to sell about 300 vehicles this year (2010) to fleets in Indiana, Maryland, and New York among others. We will start to target retail consumers around the middle of next year.

You plan to launch the THINK City in the U.S. in December of this year (2010). Could you please describe the dealer network you have in place?

Since the vehicles that we will be delivering in December will be going to fleet customers, we don’t have an urgent need to get a dealer network up and running this year. For 2010, THINK will be selling direct to customers and working with dealerships that the fleets are already working with for delivery and service in cases where the fleets don’t do their own service.

When we begin targeting customers in 2011, we expect to have three to five THINK-branded showrooms by the end of the year. These THINK stores will probably be located in Southern California, the San Francisco Bay Area, New York City, Washington, D.C. and Indianapolis.

PAGE 2

Are these new stand-alone dealerships, or are existing dealers adding the THINK nameplate to their offerings?

We will probably have a mix of standalone THINK stores as well as showrooms that are part of existing dealerships. We do know that we want to leverage the best practices and capabilities of traditional automotive dealers with some new automotive retail concepts. Because we’re new to the market, our sole focus is on electric vehicles, and electric vehicles are a completely different type of vehicle appealing to non-traditional automotive customers; we think we have a real opportunity to market vehicles in a completely new way.

What are the qualifications for a dealership to carry the THINK brand? Are you seeking additional dealerships?

We don’t have a criteria or requirements for dealers established yet. We have reached out to some dealers in our target markets to start a dialogue about how they can work with THINK. By and large, these are dealers that we were aware of and that have demonstrated a commitment to the environment in their dealership.

What preparations have the selected dealers been making with their service departments to handle EV repairs and maintenance?

We have no selected dealers at this time. (See above.)

Could you please describe THINK’s parts distribution and training network in the U.S.?

We’ll start with one parts warehouse in the U.S. for the 300 vehicles we’ll be rolling out this year. All of the serving dealers will need specialized training, which is one of the reasons we’re not planning a large widespread rollout initially. Instead we’ll be rolling out city-by-city, sales and service point by sales and service point, to make sure all of our customers are adequately cared for and serviced.

Are there plans to offer training and parts to the American aftermarket? When might this be implemented?

We have no plans to offer training and parts to the American aftermarket at this time.

PAGE 3

Chevy’s Volt is attracting a lot of attention. In brief, what are some of the key differences between the two vehicles?

The major difference between the THINK City and the Volt is that the THINK City is an all-electric car and the Volt is a range extended electric vehicle, which means that the Volt gets its power from an on-board engine and gasoline once the car’s 40-mile range has been exceeded.

Is THINK developing a network of roadside charging stations in the U.S.? How far along is this project?

We are not developing a network of roadside charging stations in the U.S. However, there are several companies, municipalities and states that are working on installing public charging infrastructure to encourage their residents to consider purchasing clean, zero emissions electric vehicles. Actually, our experience in Europe and as the manufacture of the world’s best-selling electric car is that most people are going to be completely satisfied with plugging in their cars at home every night and driving the cars throughout the day without a need for additional charging. We think the right market for electric cars are urban drivers, and there are few urban drivers that require a vehicle with more than 100 miles range each day.

You plan to build a third version for the U.S. in Indiana beginning in 2012. How will this American model differ from the previous two versions?

The THINK City planned for 2012 will differ significantly from the current model. The most noticeable to consumers will be the totally redesigned tophat (i.e. vehicle styling). We’ll have more to say about the 2012 version as we get closer to launch.

What are some of the key challenges/prospects in getting Americans to embrace EVs?

First, it’s important to understand that EVs aren’t for everyone. But for a specific type of driver, such as an urban driver, which is a growing segment of drivers, EVs are more than practical – they’re preferred. Anyone who wants a fun-to-drive, easy-to-park, quick-in-traffic, tough, durable car that requires almost no maintenance and only costs a quarter as much to fuel as a gasoline car would be a good candidate for the THINK City.

For more information, visit www.thinkev.com and www.asgren.com.