Norwegian automaker Think Global said yesterday that it plans to sell moderately priced electric cars to the masses, introducing its first models in the U.S. by the end of next year.

The battery-powered Think City will be able to travel up to 110 miles on a single charge, with a top speed of about 65 mph. It will be priced below $25,000.

Oslo-based Think said venture capital companies RockPort Capital Partners and Kleiner, Perkins, Caulfied & Byers had made investments to fund its entry into the U.S. under the auspices of Think North America.

"This is not a toy," said Wilbur James, RockPort managing partner. "This is a serious car that we expect to sell."

Think North America probably will be based in Southern California, the investors said. The venture investors will own half of Think North America. In March, General Electric Co. invested $4 million in Think Global.

Although technology for electric cars has been advancing — and consumer interest has been rising amid growing concerns over gasoline prices and greenhouse gases — few vehicles have come to market. Last month, San Carlos, Calif.-based Tesla Motors began production of its Roadster, an electric vehicle that costs $100,000.

The Think City "is a mass-market vehicle," said Kleiner managing partner Ray Lane, dismissing comparisons to the Tesla, which is being produced in relatively small numbers, with roughly 300 expected by the end of this year. "Our desire is to be selling 30-40-50,000 of these cars in a couple of years."

Think Chief Executive Jan-Olaf Willums said the company would start bringing test vehicles to the U.S. in coming months.

The Think City runs on sodium batteries, but future versions could use lithium ion batteries, Willums said. The company is working with battery makers A123 Systems and EnerDel Inc. to develop the new batteries, which would increase range and speed.

With most automakers focusing on hybrid technology, only a handful, including Nissan Motor Co. and Mitsubishi Motor Co., have announced plans to produce all-electric cars. Mitsubishi's MiEV is to go on sale in Japan next year.

Ford Motor Co. was long the owner of Think but sold it in 2003. It was purchased by Norwegian investors two years ago and began selling cars in Norway this year, with sales in Sweden, Denmark and Britain expected in coming months. The company said its annual production capacity in Europe is 10,000 vehicles. The Think City, a two-seater that can be fitted with two additional seats for children, has a mostly plastic exterior and is 95 percent recyclable.

Willums said a convertible is in development.