Think working on "capital increase negotiations," production of City EV could resume soon
Click above to watch the video after the jump
News has broken that Norwegian electric car company Th!nk is getting a big chunk of change, between $40-50 million, from new and anonymous investors. The company says that "capital increase negotiations have reached a first conditional approval from investors, and the company is now moving into formal debt settlement negotiations with its creditors."
What's more exciting is that these approvals and negotiations mean that Th!nk is one step closer to restarting production of the Th!nk CIty electric car and "to honouring its commitment to start delivering vehicles to customers before the end of the year." Read the official Th!nk statement and find a somewhat abstract "celebratory film" from Electric Aid after the jump. Thanks to everyone who sent this in!
Gallery: Think City in action
[Source: Th!nk, Electric Aid]
THINK STATEMENT:
TH!NK MAKING PROGRESS IN CAPITAL INCREASE AND CREDITOR NEGOTIATIONS
OSLO, Norway, Tuesday, 16 June 2009 – Think's much talked-about capital increase negotiations have reached a first conditional approval from investors, and the company is now moving into formal debt settlement negotiations with its creditors, as reported in the Norwegian business press today.
This means that TH!NK is getting closer to resuming production of the TH!NK City and to honouring its commitment to start delivering vehicles to customers before the end of the year.
TH!NK's customers are eagerly awaiting their new TH!NK EV in cities across Norway, Sweden, Denmark, the Netherlands, Austria and Spain.
More details will be released upon completion of these negotiations.
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