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Think Tanked: EV Builder Files Bankruptcy

Posted in auto industry, Electric Cars, News by Kurt Ernst | June 24th, 2011 | Leave a Reply |

The Think City. Image: Mahlum

If you were one of the two or so people (besides the U.S. Government) who purchased a Think EV, I’ve got some bad news for you. Norway-based Think has filed for bankruptcy and will liquidate all assets worldwide, including it’s Think operation in Elkhart, Indiana. The company will also liquidate Ener1, a battery supplier to the EV industry, to which Think owes some $32 million in outstanding loans.

Ford was an early investor in Think, until efforts to control spending required the automaker to reduce foreign investments. Ford sold their share of Think in 2003, but the company still had promise as recently as 2007, when their fifth generation Think City was released. Sales never materialized, but the Think City was one of the electric vehicles selected by the U.S. Government for purchase in 2012.

Source: Left Lane News

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