Wednesday, June 22, 2011

Hot News: Think Global Bankrupt


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

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