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 can build electric cars in the US or anywhere else, it needs funding to stay alive. Think is now in the Norwegian version of Chapter 11 bankruptcy.
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.
