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Ener1 (HEV) Now Think Global’s Largest Investor, Battery Supplier With $18 Million Investment
Think Global has been on its last legs, but is emerging from bankruptcy with a total cash infusion of $47 million from various investors including partner Ener1 (HEV). Ener1 will invest an additional $18 million in the company and convert an additional $3 million in debt for preferred shares, giving the company a 31% stake in the company and securing its spot as lead investor in the company.
As part of the deal, Ener1 receives exclusive rights to supply Think Global with lithium ion batteries for current and future vehicles. Valmet Auto of Finland, which will begin production on the Fisker Karma, will also invest in the company and take over producing Think Global vehicles with planned production of a few hundred thousand vehicles a year.
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