Norwegian EV Maker THINK Loses Key Investor

THINK City

THINK City

Norwegian EV maker THINK  has lost another key investor.  Battery maker Ener1 has announced it will return its 31% stake to the company and take a write down of $73.3 million.

This is not the first investor THINK has lost — back in 2002 Ford pulled the plug (geddit?) after investing $123 million into the company.  THINK hasn’t yet commented on what impact the loss of such investment and battery technology will have on its plans.

Marketed in several European countries, the THINK City range recently got a four seater to complement the original two seat version, adding to its practicality.  But THINK faces many challenges, not just lack of funding — the EV market remains tiny due to the expense of the vehicles, low range and poor charging facilities at journey end.  The entry into the market of mainstream car manufacturers with established dealer networks isn’t going to help their lot either — would you buy a THINK City for £19,000 when you can pick up a Renault Twizzy for less than seven grand?


RELATED POSTS

2015 BMW X1 spied cold weather testing near the Arctic Circle
QUANT e-Sportlimousine with a futuristic powertrain teased for Geneva debut
Volkswagen Golf GTE plug-in hybrid revealed
Jay Leno takes a closer look at the Toyota FT-1 concept
2015 Car of the Year initial candidates announced (33 cars)
All-new Volvo XC90 digitally imagined as a sportier coupe like BMW X6 rival
Honda Civic Type R Concept II revealed with new details about the production model
New Ford Focus RS arrives with all-wheel drive and over 315bhp
Porsche Panamera Sport Turismo is a perfect family car
Audi Q8 Sport Concept previews the future
Greater Manchester’s greatest places to live
5 Used cars that are great for summer fun
Tags: ,
linode.com