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Posts Tagged ‘bankruptcy protection’

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photo: Think

Norwegian electric car maker Think has exited bankruptcy protection and brought on board new investors. As I write in the New York Times Green Inc. blog today:

Norwegian electric car maker Th!nk is back on the road.

The company on Thursday said it has exited bankruptcy protection and secured $47 million in new funding to restart production of the Think City, a highway-capable urban runabout with a range of about 112 miles.

Think had shut down its assembly line outside of Oslo late last year when the global financial crisis cut off access to new capital.

But is Think still a Norwegian automaker? The company did get some local street cred Thursday: Among its new shareholders is Investinor, an investment fund backed by the Norwegian government.

Still, in another sign of the globalization of the nascent electric car industry, the Think City will now be made in Finland at the plant of one of its new investors, Valmet Automotive. (Valmet assembles the Porsche Boxster and Cayman and will begin producing the Fisker Karma plug-in hybrid electric sports sedan.)

You can read the rest of the story here.

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