Thursday, June 23, 2011

Electric Car: Short Run, Then Goes Dead

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The company, that is! They Think, Therefore They Are No More*, Think Global AS is filing for bankruptcy.

The electric car maker that launched its North American operations in northern Indiana has filed for bankruptcy protection in Norway, a major creditor said Wednesday morning.

Think Global AS plans to liquidate its assets, according to a statement from its exclusive battery supplier, Ener1 Inc.

Ener1, which engineers and makes its batteries in the Indianapolis area at its EnerDel subsidiary, notified investors Wednesday that the company would take a charge of more than $32 million on unpaid loans and accounts receivable from Think Global.

Wonder if anyone sold "short"?

*More properly, "They Think Globally, Therefore They Are No More".

H/T Gateway Pundit


  1. They shouldn't have much to liquidate....

  2. Sounds like they left that Indiana company holding the bag. $32 million in unpaid loans and accounts receivable, in addition to losing perhaps their largest customer?

    Things don't look bright for the Hoosiers today!

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  4. We don't look kindly upon spam around here, Faizan


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