electric carmaker suddenly in trouble - lithium battery suppliers
This is a crazy month for Norwegian electric car maker Think Global.
Earlier this month, the company announced an optimistic plan to increase its micro-plastic production
As of the end of 2009, the number of cars in Fuli City increased from 2,500 to 10,000 each year, and expanded to Europe and the United States.
The car has already been sold in Scandinavia.
But this week everything seems to have crashed.
Think's chief executive, Richard Coney, held a press conference on Monday announcing the company's urgent need for $14.
The government of Norway has provided loan guarantees of $5 million to $29 million to continue its short-term financingTerm operation. Mr.
Kang said production would stop without government funds and hoped to start again early next year.
He also said as many as 70% thought employees would be fired.
Financing was rejected shortly after.
Rikke Lind, Deputy Minister of Trade and Industry of Norway, told Reuters that many Norwegian companies are in trouble.
In today's circumstances, she said, the government cannot stand on the side of ownership or provide loans to specific companies. But in an e-
Wednesday's Mail, Sir.
The incident is changing rapidly, and the government's funding is still possible, Mr. Canney said.
We are very grateful to our existing shareholders for their continued support. Canny said.
We appreciate the encouraging news that the Norwegian government may take action to develop plans for the cleaning car sector of the Norwegian automotive industry, similar to those recently announced by Sweden and the United StatesS.
Funding green technology in the automotive industry is an urgent global priority.
The two American companies A123 Systems and Ener1 are lithium-
Ion battery suppliers can think, and the question from carmaker solutions raises questions about how they might be affected.
On Wednesday, Ener1's chief executive and chairman, Charles Gassenheimer, was contacted at the Think headquarters in Aurskog, Norway. (
There was no reply to the call to A123. )
Ener1 has a $70 million contract through its EnerDel subsidiary for the production of Think batteries.
The company just announced on Tuesday that it had received a $30 million credit line.
We have received full funding as of 2009 and we have many other clients
He said.
Obviously, it's not our dream scene, but it's a short-lived scene.
The term blip on the radar.
Asked how the fate of the company could change so quickly, he said: The Norwegian government promised to provide assistance, but it did not come.
The financing agreement for Think Holdings failed because it relied on state aid. âx80x9dMr.
Think has sold 250 city cars, Gassenheimer said.
This is an incredible event, he said, because with all the key parts of the car, battery and supply chain, Think is on the verge of full production.
The question is how to get working capital.
Future companies are being hampered by the trauma of the credit market.
It would be a tragedy to shut this up and not cross the goal.
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Thank you for your update. I hope Th! nk survives.
However, it seems that the show is not over yet. //www. autobloggreen.
Com/2008/12/17/day-nk-bankruptcy-bailout-drama-continues-in-
Norway/if Norwegian are stupid enough not to support them!
I hope their oil money will run out soon and then they will die.
They deserve it!
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