By now, most folks might have bet that the long-struggling electric vehicle manufacturer, Think, would have come unplugged.
Yet despite the fact that the Norwegian company is in the Scandinavian equivalent of Chapter 11 bankruptcy, Think is getting ready to set up a U.S. manufacturing facility in one of eight states now under study.
The maker is looking to start marketing to U.S. fleet customers, in 2010, and open up a retail distribution chain a year later, according to CEO Richard Canny.
If some observers remain skeptical, there’s good reason. In the 17 years Think – or Th!nk, as the company prefers – has been operating in the U.S. market, it has sold a grand total of 2000 electric vehicles. It’s future seemed bright, a decade ago, when it was acquired by Ford Motor Co.’s hard-charging former chief executive, Jacques Nasser. But in 2003, following his ouster, Think was sold off as part of Ford’s “back to basics” strategy.