25 Jul '11, 1pm

Bankrupt Norwegian Electric-Car Maker Think Gets Russian Owner

Bankrupt Norwegian Electric-Car Maker Think Gets Russian Owner

Assembly of Think City electric cars, Elkhart, Indiana, Jan 2011 Enlarge Photo Well, it's official: After its fourth bankruptcy in two decades, the Norwegian electric-car maker Think Global has a new owner. As rumored last week , he's lumber baron Boris G. Zingarevich, of St. Petersburg. Zingarevich also happens to be the largest shareholder in Ener1, the lithium-ion cell company that had invested in the last round of Think restructuring. He sits on that company's board of directors. Ener1 wrote down the value of its its holdings in the electric-car maker before Think declared bankruptcy in late June. According to his bio, Zingarevich is "an international serial entrepreneur" whose investments span "a wide range of new and traditional industries in a number of countries." He is also the founder of Ilim Group, described as "a joint venture with the American company Internat...

Full article: http://www.allcarselectric.com/news/1063738_bankrupt-norw...

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