Norwegian electric car company Th!nk going Swedish?
The site for all things Th!nk, Electric Aid, has gotten a hold of a new rumor surrounding the Norwegian electric automaker: it may no longer be a Norwegian company. Swedish TV station SVT is apparently reporting that production of the electric City car may move from Aurskog, Norway to Sweden. After all, now has a bit of extra capacity; SAAB stopped production this week. It’s all rumor and hearsay at this point, but given Th!nk’s recent troubles in Norway , this move might make sense. And remember, Swedish businesses invested $20 million in Th!nk earlier this month. Electric Aid also points us to a new Th!nk press release that says, look here, that the Swedish Royal Court recently took delivery of two Th!nk City vehicles . The Swedes were introduced to the electric cars last June during “Svenske Flaggans Dag” on June 6th 2008, when the THINK City cruised through Stockholm in a sort of eco-car parade. Thanks to Andre for the tip! [Source: SVT via Electric Aid ] Continue reading Norwegian electric car company Th!nk going Swedish? Auto Blog: EV/Plug-in , Europe/EU , Th!nk (Think) Norwegian electric car company Th!nk going Swedish? originally appeared on AutoblogGreen on Fri, 27 Feb 2009 10:17:00 EST. Please see our terms for use of feeds . Car Blog Green | Car Blog Green | Car Blog Green | Car Blog Green
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Norwegian electric car company Th!nk going Swedish?
Th!nk saved by outside investors Ener1
Auto Blog: EV/Plug-in , European Union , Th!nk (Think) Click above for a gallery of the Th!nk City Th!nk’s not dead yet, though it might still officially be on life support. As expected , an outside group of investors has stepped up to the plate and bailed out the Norwegian electric car company with a bridge loan of 40 million crowns ($5.69 million). The largest bit of funding comes courtesy of Ener1 Group Inc. If that name sounds familiar, it’s because they’re the private equity firm that owns 57% of Ener1, which, in turn, is the maker of battery packs that are being used in the Th!nk City. This figure is short of the 100-200 million crowns that Th!nk’s administration said may be necessary for continued operation, but Th!nk’s Richard Canny says it gives them time to get final funding in place and to begin working back up to regular production. Ener1 Chairman and CEO Charles Gassenheimer told AutoblogGreen that, “Ener1 Group has been very interested in furthering its investments in Electric Drive, so this fits within our investment paradigm. The financial distress in December took all of us by surprise, so this is just a short term solution. This will give us until March to complete the larger round. This funding round will allow Think to start ramping up production as early as February, with an eye to getting back into full volume production by April.” Thanks to everyone who tipped this ! Gallery: Th!nk City [Source: Reuters ] Th!nk saved by outside investors Ener1 originally appeared on AutoblogGreen on Tue, 13 Jan 2009 19:07:00 EST. Please see our terms for use of feeds . Car Blog Green|Car Blog Green|Car Blog Green|Car Blog Green
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Th!nk saved by outside investors Ener1
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