Rockport co-leads $40m round for Think

Ener1 remains Think's largest shareholder, with a 31% stake in the company, while Rockport Capital is now the second-largest equity holder. Each company put up $12.5m in the latest round.

Earlier this year, Think announced it would build its first US factory in Elkhart, Indiana, with its City urban runabout model expected to start rolling off the assembly line in early 2011.

The car, a snub-nosed coupe with a floor-to-ceiling glass hatch, can travel about 112 miles on a single charge.

The new funding would allow the company to introduce a right-hand-drive version of the City to the British market in early 2011, and to expand its electric drive train manufacturing business.

Think has raised $87m since August. Previous investors have included Silicon Valley VC Kleiner Perkins Caufield & Byers and General Electric.

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