Car Crash: Norway EV Maker Th!nk on the Verge of Bankruptcy
For the past few months, we've all heard about how the inept Big 3 US automakers were in responding to the demand for efficient, alternative energy vehicles, and that's why they we're in such dire straits. Come to find out, they are by no means the only automakers in serious need of a handout. Cutting edge zero-emissions car makers around the world are feeling the pinch, and some like Norway-based Th!nk are teetering on the edge of collapse.Sadly, it appears that if someone doesn't give Th!nk at least $15-30 million in the next couple of weeks, the whole operation will grind to a halt. As it stands, they've asked the Norwegian government for a bailout -- just as US automakers have -- but the response seems to be that it's not fair to bailout one company and not others. Sound familiar? Anyway, pending a bailout by investors, Th!nk will finish the 100-150 vehicles that they've started and then lay their 250 workers off in January. They can't even commit to filling all of their current orders. Bummer.
[via AutoBlogGreen]
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