PHOTO CAPTION: The company reports it has a backlog of orders for its Th!nk city electric car.

Think Secures $39M to Restart Production

Despite additional funding, Think remains 280 million crowns ($31.3 million) in debt,.

Published: 19-Jun-2009

Norwegian electric carmaker Think, which was facing the threat of bankruptcy earlier this year, has gotten some cash to revive its business.

The company on Wednesday received an investment of 250 million Norwegian crowns ($39 million) from new and existing investors, according to The Norway Post.

That could help the beleaguered automaker restart production of its Think City vehicle, whose future had been placed in question by news early this year that the company was facing potential insolvency.


TREV two-place electric car

Student-built vehicle can do 0-60 in 10 seconds with top speed of 75 mph. Photo courtesy of University of South Australia.

Hong Kong is not without EVs though. Private organizations like local utility Hong Kong Electric has its own small fleet of them.

Overall, the subsidy works out to a little over 20 per cent, which means a saving of Rs 4,000-7,890. Pictured is Hero Advanta electric scooter.


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