TH!NK Electric Car Maker Wants to Move to Sweden (or the U.K.)
Norway's electric vehicle manufacturer TH!NK has a long and troubled history - gone bankrupt twice, changed hands a couple of times (including a short stormy marriage with Ford) and stopped its production line late last year when the economic crisis hit. But TH!NK's woes are far from over, it seems, as the company's leaders try a novel idea: an offer to move TH!NK lock, stock and batteries to a nation willing to prop it up until propserity re-appears. The two current contenders? Battered Britain and Slumping Sweden. Sweden may be in the lead, as Saab has tanked, and Swedish King Carl Gustaf has already reportedly purchased two TH!NK electric vehicles - in blue and gold, of course.Powercircle says move EV production to SwedenSweden's Powercircle told Miljörapporten it is attempting to broker a deal in which TH!NK would move production to two former Saab sites: Trollhättan near Gothenburg and Uddevalla. Thus a EV manufacturing hub could be created, Powercircle says, with just 185 million Swedish crowns in contribution from the government, creating 500 jobs in the short term.
Brits give 'positive response' to local electric car manufacturingIn its letter to the Swedish government, Powercircle and TH!NK say the first response from the British government has been encouraging. But according to the letter, the offer is only good for a limited time - TH!NK wants the Swedes or Brits to respond by the end of March.
600,000 electric car market by 2020The Swedish Electric Mobility Initiative forecasts the market in Sweden alone will be for over half a million electric cars by 2020. Sweden's traditional automotive industry, consisting of Volvo, Saab and scores of sub-suppliers, has been hard hit by the economic crisis. Switching existing capacity to electric production could help save the industry, according to Innovatum, which is also involved in launching 50 electric vehicle test sites in the country.
TH!NKing big, but wait and see on U.S.TH!NK secured interim financing of $5.7 million in January, but needs more cash to keep going. The company still says it plans to launch the TH!NK City in US markets next year. Via: Ny TeknikRead more on electric cars and TH!NKNorwegian Electric Car Maker THINK Stays Alive! Receives Interim FundingNowegian Electric Car Maker TH!NK in Serious Financial DistressCrazy Norwegians Review TH!NK Electric CarSweden TH!NKing Harder About Wind-Driven Car Fleet