Production of the Think City is under way at Valmet Automotive Inc.’s plant in Uusikaupunki, Finland.
Valmet is taking over output of the electric vehicle under a deal in which it acquired an equity stake in Think Global AS as part of a consortium providing some $47 million in new capital that allowed the Norway-based company to exit bankruptcy in August.
Battery supplier Ener1 Inc. also is among the investors backing Think.
With the shift to Uusikaupunki, Think has suspended indefinitely production at its Aurskog, Norway, facility. The plant built its last City last December, before being shut down due to the company’s financial problems.
Think says the order bank for the City stands at 2,300 vehicles, and some customers can expect to receive their new cars before Christmas.
“Our next priority is to build on this order book with continued expansion in Europe and around the world,” Think CEO Richard Canny says in a statement.
Canny says the strategic alliance with Valmet is “much more than just about assembly – we are already reaping the benefits of Valmet’s expertise in manufacturing and engineering – with time being taken out of the production process, more manufacturing done on site and an overall more efficient industrial solution.”