15 Apr '11, 6pm

Report: Think facing financial diffuclties; Valmet halts production of City EV

Our business in Europe and the U.S. remains strong. We are continuing to sell and ship vehicles to customers in both Europe and the U.S. In fact, consumer interest in THINK has significantly increased in the last couple of weeks, and we look forward to addressing this demand with a new U.S. consumer-facing web portal that will be launching shortly. We are also seeing a lot of interest from fleets in the THINK City – partially due to our participation in the GE EV Experience Tour earlier this year. We have recently received a commitment from Project Plug-IN in Indianapolis to offer a $9,000 rebate in the THINK City in Indiana, which combined with our new, lower MSRP makes the net cost of the car $19,995.00 to most customers in Indiana. We have asked Valmet to temporarily stop production in Finland, while we rebalance our parts inventory in Europe. The stoppage in Finland ha...

Full article: http://green.autoblog.com/2011/04/15/report-think-facing-...

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