Think Global Declared Bankrupt

We reported back at the end of May that Norwegian EV manufacturer Think had lost key investor and battery market Ener1.  So there’s some unsurprising news today — Think has been declared bankrupt.

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.


RELATED POSTS

Bentley Hybrid Concept based on Mulsanne announced for Beijing Motor Show
Updated 2015 Range Rover and Range Rover Sport revealed with more torque and new tech
Top of the range 2016 Jaguar XE SVR digitally imagined
Porsche Panamera Exclusive Series revealed, limited to 100 units
2015 Shelby GT revealed with 627bhp, designed for international markets
Make second-hand your first choice: choosing a "new" car
New updated Bentley Mulsanne range revealed ahead of Geneva debut
Škoda Kodiaq SUV to make guest appearance at final stages of Tour de France
5 popular cars to drive in Scotland
All-electric Nissan e-NV200 now part of iconic Harrods delivery feet
LEVC electric taxis arrive on London's roads for the final phase of testing
Volkswagen welcomes summer with exclusive California Edition models
Tags: ,