Th!nk Electric Car Maker Secures $60 M in New Equity

While Aurskog will remain company home, Th!nk is also looking at additional production sites including the US, Switzerland and the Netherlands.

Published: 14-Jul-2007

Norway's revived electric carmaker, now called "Think Global," is raising more capital with the goal of producing 10,000 cars a year by 2009.
New "Think" cars are due to be rolling off the production line soon.

The company announced a new equity issue Wednesday that's attracted NOK 350 million (about USD 60 million) for the Aurskog-based carmaker that's been in and out of bankruptcy for years with a variety of different bosses at the wheel.

Now Jan-Olaf Willums, chief executive of Think Global, appears to have some solid investors behind him. The firm started rolling again earlier this year, with a line-up including retailing tycoon Stein-Erik Hagen, hotel developer Petter Stordalen and shipping heir Petter Sundt.


Tesla Motors, a four-year-old Silicon Valley start-up, has raised $60 million and spent $25 million developing a two- seat Roadster that will sell for between $85,000 and $100,000.

There are so few green 'stars' at the British International Motor Show this year because there doesn't seem to be that much demand for them. Pictured is Axiam microcar similar to electric version debuted in London this week, along with Smart EV.

The plug-in hybrid could provide most all of the benefits of the electric car with few of it disadvantages. Pictured is 1912 Detroit Electric.


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