Electric car maker Think! needs help

* Close to bankruptcy * Sold by Ford in 2003 * Needs 20 million to stay afloat...

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What Car? Staff
18 December 2008

Electric car maker Think! needs help

Electric vehicle maker Think! has admitted it is close to bankruptcy.

Think! was owned by Ford, but Ford sold it on in 2003 after deciding that there was no future in making electric vehicles.

The Norwegian-based firm has since been under independent ownership, but says that it now needs up to $30million (around 20 million) to stay afloat and keep its 250 employees in work.

The Norwegian Government is said to have rejected an appeal for financial support, and hopes now rest with the company's shareholders supplying more funding.