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PHOTO CAPTION: Think Global assembly line in Aurskog, Norway. Production resumed in October, 2008

Norwegian Electric Carmaker Th!nk Seeking Gov't Aid

Think having difficulties in obtaining working capital with automotive suppliers requiring tougher delivery terms for parts due to the global financial crisis.

Published: 16-Dec-2008

OSLO - The Norwegian maker of the Think City electric car on Monday said it was in a funding crisis and was in talks with the government to escape its "urgent financial distress", which was sparked by the global financial crisis.

Like many other car companies, Think said it had difficulties in obtaining working capital and that automotive suppliers offered tougher delivery terms for parts due to the global financial crisis.

"There are limited possibilities for funding working capital through bank credits without extra guarantees in today's financial markets," Think said in a statement.

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