August 26, 2009

“˜Think’ May Be Moving Plant To Finland

The Norwegian tabloid Verdens Gang said Wednesday that an electric car manufacturer based in Norway called Think might move its production to Finland as part of a restructuring plan.

The Think City minicar is one model in Think's product line that is considered a pioneer in the electric vehicle sector.

"New and current investors will inject millions of kroner to save Think," the newspaper said, citing financial sources familiar with the situation.

"The production of the car itself will be moved to Finland," the report added.

Valmet, one of the new investors in the company, is based in Finland.

Think employs about 200 people and has only one assembly plant in Aurskog, east of Oslo.

Think said in December that it was planning to build 10,000 cars from the end of 2009, but that goal has been interrupted because of the falling economy.

"To begin with, the development and design (work) will stay in Norway but ... it is likely these activities will also go," the newspaper wrote.

Katinka von der Lippe, Think's spokeswoman, told AFP that she could "neither confirm or deny" whether the VG report was accurate.

"We are right in the middle of a restructuring process which, by law, means we cannot comment on these questions," she said.


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