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Wednesday, May 25, 2022

Interest high in Think’s remains

Several parties have signaled their interest in buying up the bankruptcy estate of Norway’s long-troubled electric car maker Think, and one in Turkey has already claimed a sale is in the works.

Newspaper Dagens Næringsliv (DN) reported Wednesday, though, that Think’s bankruptcy administrator Jo Rodin hadn’t received any concrete bids as of Tuesday. The deadline for bids is Thursday, with around five parties believed to be serious contenders.

Among them is BD Otomotiv of Turkey, which already has extensive electric car operations from its base in Istanbul. A company official told DN that BD Otomotiv views Think as a “fine and robust” car that’s ideal for city use. Research and development could continue in Oslo, he said, with production in Turkey.

Think filed for bankruptcy protection for the third time last month, with outstanding liabilities of as much as NOK 500 million (USD 91 million).

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