25 million dollars for Think
Think is now drawing new and well-known investors. In a very short period of time, the private placement was final. The enthusiasm surrounding ideas for a different car company was received in an obvious positive manner.
-We are happy and proud to have drawn in a bunch of very interesting investors. This opens the door for new Think, according to the managing director Jan-Olaf Willums. The production of New TH!NK city will begin over the course of the fall. –The goal is to deliver TH!NK city to the first on the waiting list around the turn of the year, Willums tells.
New investors
TH!NK city has been very well received. In Norway, Sundt AS (Petter Sundt), Canica AS (Stein Erik Hagen), Centra-group (Christian Stabell Eriksen) and Home Invest AS (Petter Stordalen) are investing in the company. The American investment company Wintergreen Advisers and Heinz Family Trust are also among the investors. –We have waiting lists for new cars, but we could also make a waiting list of investors, Willums explains.
New car
TH!NK city which will enter the production phase soon, is a completely new car. New battery technology doubles the earlier range of the car. Now you can drive a total of 180 kilometres without charging. The new design has received positive mentions both in and out of Norway. New construction and new materials provide even better safety in traffic. –We are very enthusiastic and are excited to deliver this car to our impatient customers, Willums says.
New company
A new company is now being built, but on a strong foundation. Ford Motor Company invested close to 150 million dollar, until it sold the company to Kamkorp Microelectronics for strategic reasons in 2003. During the spring of 2006, new owners took over and began the work to finish TH!NK city.
The road ahead
The investment has shown results after the new investors joined in. The main tasks are now the clearance for production and the delivery of the first cars towards the end of the year. – We are now committing fully to the validation and initiation of the production line and the production of test cars and market cars, the launch of the car including service and after sales, says Willums. At the turn of the year, we should be able to produce exciting cars for the Norwegian and Scandinavian market.
For more information, please contact:
Ingvil Ladehaug, spokeswoman
+47 95 75 70 71