Think electric car set to roll out of Norway: report
Think, an electric vehicle manufacturer based in Norway, may move production to Finland as part of a restructuring plan, the Norwegian tabloid Verdens Gang reported on Wednesday.
Think has just one model in its product line-up, the Think City minicar, and is considered as a pioneer in the electric vehicle sector.
"New and current investors will inject millions of kroner to save Think," the newspaper said, citing financial sources familiar with the situation.
"The production of the car itself will be moved to Finland," the report added.
Valmet, one of the reported new investors, is based in Finland.
Think, which employs around 200 people, has just one assembly plant in Aurskog, east of Oslo.
After modest volumes last year, Think said in December it wanted to build 10,000 cars from the end of 2009 but that goal has been hit by the global economic turmoil.
"To begin with, the development and design (work) will stay in Norway but ... it is likely these activities will also go," the newspaper wrote.
Think spokeswoman Katinka von der Lippe told AFP that she could "neither confirm nor deny" whether the VG report was correct.
"We are right in the middle of a restructuring process which, by law, means we cannot comment on these questions," she said.
(c) 2009 AFP
