Bankrupt battery car maker Think Global could get a second – make that fourth – chance, a Russian investor getting court approval to re-launch the brand, which went belly-up last month.
The new owners plan to rename the long-troubled company Electric Mobility Solutions AS but will continue to operate it out of Norway – with subsidiaries in both the U.S. and United Kingdom. Those operations continued even while the Norwegian parent faced the possibility of a court-ordered break-up.
“Having achieved the position of one of the world’s most highly regarded electric vehicle products, the THINK brand is a valuable asset that deserves to continue its key role in the global shift to electrification,” Russian investor Boris Zingarevich said in a statement.
“With the potential of working with the leading American automotive lithium-ion battery maker and Europe’s top automobile engineering and manufacturing company, I believe we could have exactly the right combination and value chain to ensure that the brand will be increasingly competitive in the worldwide electric vehicle market,” he added.