Two stinking electric vehicles. That's what Elkhart, IN, has to show for the trio of electric-vehicle makers that were going to create thousands of jobs in town during the past decade but ultimately went bust, the Elkhart Truth reports. Of course, the real "truth" is a little more complicated than that.
The former CEO of Think Global has moved over to XL Hybrids. Richard Canny, who sometimes writes for AutoblogGreen, joined the XL Hybrids board of directors this past week and said in a statement that he is ready to promote the company's aftermarket hybrid powertrain system that is supposed to improve fuel efficiency by up to 20 percent. Canny said in a statement that, "XL Hybrids has a unique and proprietary technology system that offers a hybrid drive solution to fleets at a fraction of the in
Ener1, a pioneer of lithium-ion batteries for plug-in vehicles, has warned that it might not have sufficient funds to remain operational as a result of losses from its investment in Think Global, a Norwegian automaker that declared bankruptcy in late June.
When Ener1 abruptly ended its four-year-long deal with Think Global, saying that its investment was "impaired," we had reason to worry. Now comes word that the struggles continue to mount at Think Global and that the automaker has filed for bankruptcy. Again.
Back in October of 2007, Ener1 and Think Global inked what was hailed as the largest contract for lithium-ion batteries in automotive history. Under terms of that agreement, Ener1 was to deliver li-ion prototype packs to Think in March 2008 and pre-production packs in July 2008. Once those milestones were met, Ener1 expected Think to purchase $70 million in batteries between 2008-2010 and assumed that the total value of its contract with Think would exceed $200 million. By definition, expectatio
Think continues its senior leadership changes and expansion with the announcement that William Nowicke will join the company as vice presidend of global operations. Before signing up with the electric car company, Nowicke was a VP at "the global turn-around, restructuring, and business advisory firm, AlixPartners LLP." Turn around and restructuring? Sounds like something Think could find a use for those skills in a global operations VP. While no one is giving any details, there's a slight hint i
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Ener1Del has signed a deal with Think Global, the makers of the Th!nk city car, to become the supplier of choice for lithium-ion batteries. Under a development agreement between Ener1 and Think, Ener1 will deliver production prototypes to Think in March 2008 and pre-production parts (valued at $1.4 M) the following July. Once those milestones are reached, Ener1 expects $70 M in sales in 2008-2010 and, depending on growth from Think, Ener1 expects sales from the entire contract to be worth $200 M