Electric car manufacturer Think Global has filed for bankruptcy.
Under Norwegian bankruptcy laws, a court-appointed trustee will immediately take over the short-term operation of the Oslo-based company.
Think’s battery supplier, Ener1, which recently ended its four year deal with the firm will now begin recovering some £20m in unpaid loans and accounts receivable from Think Global.
Think's most recent product was the four-seat Think City micro car, an electric vehicle with a ‘100 mile’ range. It was due to hit UK soils this year carrying a price tag of around £23,000.
Think sold 'over 2500' city cars in Europe and the US since its introduction in 1999. The company has been in business for 20 years.
Thanks to: Autocar