Follow us on Twitter Follow us on Facebook View our linked in profile View our RSS feeds
SustainableBusiness.com
 
News
Your daily source for sustainable business & sustainable investor news.

(view sample issue)


This is an archived story. The information and any links may no longer be accurate.

01/13/2009 09:50 AM     print story email story  

Think Saved From Bankruptcy

SustainableBusiness.com News

Norwegian electric car maker Th!nk, has received interim financing, saving the company from bankruptcy, according to a Reuters report. The company stopped production in December due to a lack of cash.

The company, which recently began sales of its Th!nk City electric car, reportedly received a bridge loan of 40 million crowns (US$5.69 million). The majority of the funds came from Ener1 Group--the primary shareholder of battery maker Ener1 Inc. (Nasdaq: HEV).

Ener1 is the contract supplier of lithium-ion batteries for the
Th!nk City vehicle--a small two-seater.

Reuters reported that the Norwegian company as gone bankrupt twice before, most recently in 2006, but is under new ownership.

The company announced in December that it needs 100-200 million crowns to survive.

Read the full report at the link below.

Website: http://www.reuters.com/article/marketsNews/idINLD14404220090113?rpc=44



Reader Comments (0)

Add Your Comment

(Use any name, your real name is not required)
Type the characters you see in the picture below.

home |about us |contact us |advertise |feeds |privacy policy |disclosure

Compare Green Cars   |   Find Alternative Fueling Stations