The rejuvenated company showed some promise in recent years, revealing a number of new concept vehicles and delivering several hundred cars in Europe, then the global economic crisis took its toll. Demand for its cars started to fall and the company couldn’t raise enough capital to fund its growth, and eventually it went bankrupt again.
Now, while restructuring under the bankruptcy agreement, Think hopes to return to the U.S. market and is even in talks with investors to set up a local factory. Think has a new product that it believes could inspire investors and lead to a partnership with another party, ideally one with U.S. distribution resources, according to Automotive News.
The car that could help bring the Think brand back from oblivion is the new Th!nkCity car - a two-door affair that is slightly bigger than the Smart ForTwo. Running on lithium-ion batteries, Think claims the car is capable of travelling 120 miles before it needs to be charged. However, the car's maximum speed is estimated at only 65mph.
Pricing for the Th!nkCity is expected to fall below $20,000 if it reaches American shores, placing it well below the pricing for today's Toyota Prius hybrid car. Other electric cars from manufacturers such as Mitsubishi are expected to be priced similar to this.
The company is also in discussions with eight U.S. states in regards to building a North American assembly plant. Leading the field is Michigan, which Think claims has the most talented auto workface in the country, but everything will depend on whether or not the company can secure enough funding.