Production
Think Global originally planned to start deliveries to Norwegian customers in the last quarter of 2007. That target was missed, but as of August 2008 some 100 electric cars had been manufactured for customers in Norway. On December 15, 2008, the carmaker suspended all vehicle production and laid off 50% of its staff pending negotiation of up to US$29 million in funding for working capital, citing "urgent financial distress." Production of the Th!nk City restarted on December 10, 2009, at Valmet Automotive in Uusikaupunki, Finland. In October 2010 production had reached 2,500 units, making the Th!nk City one of the world's best selling pure electric cars.
On November 24, 2010, Think North America began manufacturing in the Magnum Drive plant located in Elkhart, Indiana. Initially the Finland plant manufactures the body and wheels on the chassis, then ships them to the United States. The lithium-ion battery, made by EnerDel in Indianapolis, the motor and gearbox, seats, headlights and other components are assembled in the Elkhart plant. Each car takes about a week to complete.
Due to financial difficulties, production of the Th!nk City in Finland was stopped in March 2011, and the company filed for bankruptcy in Norway on June 22, 2011, for the fourth time in 20 years. Although Think North America is a separate entity, its future also is in doubt because it is financially supported by the headquarters in Norway. Production in the Elkhart plant was halted a few days before the bankruptcy filing due to delays in the delivery of parts required to assemble the electric cars.
Think Global's assets were bought by Electric Mobility Solutions AS in July 2011, including shares of wholly owned subsidiaries THINK North America and THINK UK. The new owners announced that production is scheduled to restart in early 2012 with a refined Think City.
Read more about this topic: Think City
Famous quotes containing the word production:
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