Tech-bite

ONE of Silicon Valley's most prominent venture capital firms unveiled plans to put as many as 50,000 electric cars on American roads beginning late next year. The announcement of a new joint venture by Kleiner Perkins Caufield and Byers, which has in the past backed internet companies such as Google Inc. and Amazon.com Inc., could make the famed tech region south of San Francisco a mecca for plug-in cars as well.
To be based in Menlo Park,California, 'Think North America' will bring together Kleinder with clean technology-focused venture capital firm RockPort Capital Managment and 'Think Global',a Norwegian electric car marker.
The joint venture's first product will be "think city ", an emission free,95 % recyclable car with a max speed of 65 miles per hour.lane said he expects the think city, which will be priced under $25000, to compete with toyota motor corp's popular prius hybrid. It will also be a low-end rival to Tesla Motor's high-profile Roadster, the all-electric luxury sports car also made in Silicon Valley that began regular production last month after several delays.More than 1,000 customers have ordered the $100,000 Roadsters, according to the company.
Tesla has said it plans to gradually ramp up productiong, making more than 100 Roadsters a month by early next year. Now made in Norway, Think City- about the size of a Toyota Yaris or Honda Fit- runs on sodium or lithium batteries and can travel up to 110 miles(177 km) on one charge. "This is not a toy, this is a serious car that is able to be mass-produced and sold," said RockPort general managing partner Wilber James.
Think City's battery takes about three hours to recharge if plugged in daily, or eight hours if the battery is drained.
GM wants to introduce a plug-in hybrid, the Chevrolet Volt, by the end of 2010.
Venture capitalist have been investing heavily in the "cleantech" sector of alternative energz, transportation, construction, recycling and other technologies.