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Battery Maker Think Gets New Start

Bankrupt brand finds new owner.

by on Jul.25, 2011

Think will be reborn as Electric Mobility Solutions.

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.

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“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.