About a month ago, electric-car maker Think Global announced that it has filed for bankruptcy. Reports now state that Russian entrepreneur Boris Zingarevich, a major shareholder in Think, has been selected by a Norwegian court to bring Think out of another bankruptcy.
Zingarevich said that new version of the Think City electric-car will be launched in early 2012 with the help of Think shareholders Ener1, a U.S. battery maker, and Valmet, a Finnish assembler.
Ener1 and Valmet are working on restructuring their outstanding loans to Think, including a stake in the new company.
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“The Think brand is a valuable asset that deserves to continue its key role in the global shift to electrification,” Zingarevich said.
– By: Omar Rana
Source: Inside Line