A few weeks ago we reported Norwegian automaker, THINK, was in bankruptcy, and pundits were saying this was the end – well apparently they thought wrong. According to Automotive News, the small city car maker is in the advanced stages of negotiations with Turkey-based BD Otomotive, an investment group, wishing to bring the brand into
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The maker of one of the electric vehicles anticipated for launch later this year filed bankruptcy yesterday in its home market of Norway. This is the fourth time in its 20-year history Think Global AS has run out of sufficient operating capital. “We needed some additional funding and although we had interested investors they were
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The maker of one of the electric vehicles anticipated for launch in North America later this year filed for bankruptcy protection yesterday in its home market of Norway. This is the fourth time in its 20-year history Think Global AS has run out of sufficient operating capital. “We needed some additional funding and although we
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At the end of 2008, the Norwegian small electric carmaker known as Think was facing its demise. The 20-year-old company, formerly owned by Ford, had experienced two previous bankruptcies and was in the middle of its third. It was producing only about 10 cars a day before it laid off more than half its 250
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As the Bard might have put it, “That which we call an all-electric emissions-free vehicle, by any other name would drive as sweet.” To gain mainstream acceptance by mainstream car buyers, electric cars will face all kinds of real economic and technical challenges—such as limited driving range, hefty price premiums, and lack of charging stations.
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Norway-based electric carmaker Think received more than its share of buzz last week as the company announced plans to produce its small all-electric vehicle in the United States. But what the company wants is a share of the $25 billion in Department of Energy loans set aside to promote advanced technology vehicles. Before the company
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Electric carmaker Th!nk was denied its request to the Norwegian government for loan guarantees to weather the current economic crisis. The denial may have sealed the company’s fate. Th!nk requested an estimated $15 to $30 million bailout. According to the company, those short-term guarantees, plus a temporary work stoppage and a layoff of 50 to
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