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.

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