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Think Global Aims to Build EVs in China
Oslo-based electric vehicle maker Think Global is seeking a Chinese joint venture partner with which to open a plant in China to build low-cost EVs for the Asian market, owner Boris Zingarevich tells Bloomberg News.
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Oslo-based electric vehicle maker Think Global is seeking a Chinese joint venture partner with which to open a plant in China to build low-cost EVs for the Asian market, owner Boris Zingarevich tells Bloomberg News.
He did not identify any potential partners. Zingarevich says the venture would market EVs priced between $10,000 and $15,000.
Think can't make cars profitably in Europe because of weak demand and high operating and labor costs, he contends.
The Russian entrepreneur acquired a majority of Think in July 2011, one month after the carmaker filed for bankruptcy. He created Electric Mobility Solutions AS to own Think and market its EVs.
Think has been through several owners including Ford Motor Co. in the early 2000s and at least three bankruptcies.
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