Zap Bids on TH!NK
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| The TH!NK City electric car. |
Ford may have found an interested buyer for its scuttled TH!NK brand. Zap, a California-based electric car company, has stated it is offering $10 million USD for TH!NK. That said Ford will have to swallow $13 million just in its initial 1999 $23 million investment in the Norwegian company, originally named Pivco Industries. After renaming the company TH!NK, Ford invested over $100 million to develop a variety of electric-car models, after which it decided to discontinue its investment over this last summer as part of its recent cost-cutting agenda. TH!NK is based outside Oslo, Norway and employs 150 people.
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