Norway’s Think Refinances, Looks to U.S. and a Factory in Finland
Recessions tend to have a devastating effect on smaller automakers. The U.S., for instance, had hundreds of brand names when the Depression started, but many were casualties of the shrinking auto market that continued through the 1930s. The ones that survived cut both production and prices, staying afload on paper-thin margins. Think, the Norwegian company that makes plastic-bodied, two-seat electric cars, has generally lived up to its name. It’s tiny, two-seat plastic-bodied EV is both practical and affordable. But despite its prudence, Think was nearly a victim of bear markets and unprecedented tight credit. In early December of last year, the company appeared to have the world by the tail, and was ahead of nearly everybody in Europe getting battery vehicles on the market….
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