Think picks Indiana for U.S. manufacturing plant, applies for U.S. loan

Think City

Norwegian electric-car maker Think, which recently exited bankruptcy court protection and raised $47 million, has announced that it is gearing up to launch vehicles in the United States and has picked a site in Indiana for its U.S. manufacturing facility.

Think will announce the exact location and other details in a few weeks, according to Charles Gassenheimer, chairman and chief executive of lithium-ion battery maker Ener1 Inc., which has a 31 percent stake in Think Global.

Think has previously said that it is exploring the idea of launching its vehicles in the United States and was considering a local manufacturing plant.

Gassenheimer declined to give more details on Think’s plans for the U.S. market. However, he said that the company has applied for a U.S. government loan under a program set up to encourage production of fuel-efficient vehicles.

– By: Kap Shah

Source: Reuters