Thursday, June 23, 2011

Another one bites the dust

Norwegian electric car maker Think has filed for bankruptcy again, according to the Financial Times, after failing to find long-term financial backing for its business. It is the third time the niche car maker has fallen into receivership over the past decade, having last exited court protection back in August 2009 when American lithium battery firm, Ener1, Valmet Automotive from Finland and Investinor, the Norwegian Government-backed investment fund, all backed the company.

The news is a blow to the embryonic electric car market, says this report, and will support the views of those sceptical that electric cars can achieve a viable market presence. Ain't that the truth, Boris. And how much are you going to waste on your 1,150 charging points?