Four of Norway’s biggest private investment funds, owned by the Hagen retail group, plus funds operated by hotel and leisure operator Petter Stordalen, have become major minority owners in electric car company Think Global, in a financing round that raised EUR45m.
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The capital raised will be used to strengthen Norwegian production and acquire or create overseas production capacity.
Think Global’s board has approved a five-year plan to achieve annual production of 10,000 units by the end of 2009.
Think Global was bought back by co-founder Jan-Olaf Willums from Swiss Kampkorp in 2006.
Gerard O’Dwyer
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