MT. COMFORT — EnerDel’s local manufacturing facility is up and running as the lithium-ion pioneer begins to accelerate production of its battery packs for the Think City vehicle. 

    “Anybody who wants to buy an electric car today, Think is the only game in town,” Ener1 CEO Charles Gassenheimer said Monday in an Ener1 quarterly earnings call. “So, there is a tremendous amount of interest in the car. And we are starting to see some real backlog, and I think you will see some more information come out of Think … on the progress they are making.” 

    Ener1, the New York-based parent company of EnerDel, reported a net loss of $15.3 million for the first quarter on Monday. However, Ener1 executives expect the company to rise toward profitability as EnerDel dramatically increases production of its battery packs for automotive and energy storage applications. 
 
   The Mt. Comfort facility was readied in a short period of time, with the existing pack assembly relocating from Noblesville, EnerDel president Richard Stanley said in the earnings call. 

    “Starting the commercial production for Think marks the completion of a substantial milestone ….” Stanley said in the call. “EnerDel is the exclusive battery supplier for a period of six months, after which we become the predominant supplier for Europe and the exclusive supplier for the U.S. market.” 

     As EnerDel revs up its battery pack production, Think has gotten a financial boost. The Norwegian automaker announced Tuesday that it has received $40 million in equity for product development and expansion into the North American market. 

    The round of investment was led by Ener1 and RockPort Capital Partners, an investment fund located in Massachusetts and California. Ener1 and RockPort each increased their stake in Think by $12.5 million, according to a news release. 

    “The new equity round will help Think take full advantage of the rapid growth of zero emissions vehicles around the world,” Think CEO Richard Canny said in the release. “The electric vehicle’s time has arrived, and we are ready to take a leading role among the world’s first global EV makers.” 

    Think also announced that Gassenheimer will now serve as its chairman. Gassenheimer said in the Ener1 earnings call that his new role as chairman will help accelerate Think’s market entries. 

    Since April 29, EnerDel has built and shipped packs at a rate of 25 packs per week. The goal is to ramp up capacity to 900 Think packs per month. 

    The Think City was the first highway-capable electric vehicle certified to European safety standards, and it will go on sale in the U.S. later this year, according to Think’s news release. 

    Think’s strategic partner Valmet Automotive is assembling the Think City at the same plant in Finland where it builds the Porsche Cayman and Boxster, according to the release. Think plans to begin assembling electric vehicles in Elkhart in the first quarter of 2011, the release says. 

    As Think readies for U.S. production, EnerDel is also expanding its partnership with Volvo. The automaker has selected EnerDel as the exclusive supplier for its C30 Pure Electric Vehicle platform, which is set for production in 2011 and mass release in 2013. 

    “We are truly excited about the C30 program, believing it to be a leapfrog product to a second-generation electric vehicle design, currently undergoing the most rigorous set of crash-testing and safety systems in the industry,” Gassenheimer said in a news release. 

    Gassenheimer has also hinted at future deals with other automakers. Answering an analyst’s question in the earnings call, Gassenheimer said, “I would confirm that we plan to sign two household names … one in Asia Pacific and one in Europe.”
    China – now the world’s largest automotive market – continues to be a major focus for Ener1, Gassenheimer said, adding that “this is only the beginning” because “for every 1,000 people in China, only 30 own a car.” 

    However, Ener1 isn’t putting all its hopes on the automotive industry. Executives said in the earnings call that they continue to make strides in the development of energy storage applications. 

    EnerDel is working with its partners to develop advanced battery systems for smart grid energy storage.
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