Electric Carmaker Th!nk Taken Over by Norwegian Investor Group
Partners in the investment group InSpire, including the Think-founder Jan Otto Ringdal, acquired last week all the Think Nordic assets, including IPR and the brand name TH!NK, together with the management team and local investors.
The initial aim is to prepare for the production and introduction of the new TH!NK City model which Ford developed whilst they owned Think, - a unique product that was never introduced before Ford withdrew from the company. At that time battery technology had not evolved enough such that the range of the vehicle was compromised. The new investor group has access to new and advanced technology which will be further developed and utilised to improve the vehicle, with particular emphasis on performance and driving range.
The interest for environment friendly transport and products is growing strongly in particular for use in cities and urban areas, not least due to high energy prices and a growing concern of the effect of conventional transport on the environment. Think has products that address these issues and will serve this growing international market.
The new owners view the Think facility in Norway as a base for technology development, where the initial vehicles will be completed. Think will seek to exploit partnership and license production opportunities around the world. The group is comprised of investors who have since 2000 invested in renewable energy, fuel cells, and other technologies which will have significance for TH!NK.
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In the summer of 2002, the power authority extended its pilot Think City electric car program to the North White Plains train station from where I commuted into the city.
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