Think production to resume
Norwegian electric vehicle manufacturer Think has exited court protection in the native country.
The maker have been battling with debt just before entering court protection however it has received $47 million (￡29m) of recent investment. What this means is with the ability to resume normal manufacturing and purchasers of their Think City electric vehicle.
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Think Chief executive officer Richard Canny stated: “This court ruling completes the ultimate part of our go back to normal operations. It’s an important day for Think, and we wish to thank our creditors and suppliers for his or her ongoing support, and also to show our thanks to Think’s very patient and dependable customers – what this means is we are able to re-start manufacture of the Think City as quickly as possible.Inches
The Think City has a variety of 112 miles and the organization claims it’s the only electric city vehicle with pan-European regulatory safety approval and CE certification.
Think’s three principal new investors are US-based lithium-ion automotive battery manufacturers Ener1, Finish manufacturing firm Valmet Automotive and also the Norwegian government-backed investment fund Investinor.
Included in the deal, Ener1 will end up Thinks lengthy term battery supplier and it’ll now switch production to Valmet’s facility in Finland.
Its current plant in Aurskog, Norwegian is going to be suspended indefinitely, with around 85 jobs being affected.
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