THINK Files for Bankruptcy - Again

THINK City in the Alps

In brief: Norwegian electric car maker THINK has filed for bankruptcy - the fourth time in the company's history.

The word

Think Global AS filed for bankruptcy in Norway after failing to recapitalize and restructure itself. This is the fourth time the company has bankrupted in its 20 years in business.

The company's spokesman says that they were attempting to get new funding, but were not able to get interested investors to the table fast enough. It will now either be liquidated or sold to a new investor.

This also means the company's North American division, with an assembly plant in Indiana, is on the block. Think North America is a wholly-owned subsidiary of the mother company in Norway and is financially supported and beholden to its Norwegian home.

And so ...

Think sold only 1,043 units in 2010.

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