A court appointed administrator will immediately take over running of the Oslo-based company, which will be wound down while funds are found to pay off creditors. Apparently, Ener1 is owed $32million in unpaid loans and invoices alone.
Think makes a habit of these sorts of things. Back in 2002 Ford pulled out of supporting the company after investing $123 million.
Think has sold just 2500 cars in Europe and the US in its 20 year history.