Think Global Names New Board

Newly restructured electric-vehicle manufacturer Think Global AS names a revamped board of directors that gives seats to some strategic partners and includes one ex-General Motors Corp. EV veteran.

The company, which emerged from bankruptcy in August, will continue to be under the day-to-day direction of CEO Richard Canny, a 25-year industry veteran who at one time led Ford Motor Co.’s South American operations.

Canny will oversee development of a new-generation City EV, while transferring production of the current car out of Think’s Norway operations to Valmet Automotive Inc.’s plant in Uusikaupunki, Finland.

Valmet and U.S.-based battery maker Ener1 Inc. are among investors that paved the way for Think to exit bankruptcy with $47 million in new capital.

The company says it has more than 2,300 backorders for the current Th!nk City car.

Named chairman of the board is Reidar Langmo, a veteran of the renewable energy industry and founding partner and CEO of Novus Energy Partners.

Joining Langmo on the board are Ken Baker, who once led GM’s EV research and played a key role in the auto maker’s EV1 car; Steinar Fossen, investment director for Investinor AS, the Norwegian government’s venture-capital fund; and Charles Gassenheimer, chairman and CEO of Ener1.

Rounding out the 6-person board are William W. James, founder and managing general partner for RockPort Capital Partners; and Ulrich Thum, a marketing veteran and Valmet board member who served stints at Fiat Auto SpA and BMW AG.

Backorders for Th!nk City number more than 2,300, company says.