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Battery maker Ener1 files for bankruptcy, tied to Think Global's bumper
Nobody was that surprised when EV maker Think Global drove off into the Chapter 11 sunset, but now it's towed an even bigger company along with it. Ener1 invested heavily in Think and also manufactured the lithium-ion batteries for its cars, but all it got in return was a lethal $69 million hole in its balance sheet. The company was de-listed from Nasdaq last month and now it's seeking bankruptcy protection to restructure $81 million in debts. If it fails to get its finances in order, organizers of the 2014 Winter Olympics may need to look for another power source.
EV maker Think Global files for bankruptcy after poor US sales
Not so long ago, we were ready to believe that this plastic EV might stand a fighting chance thanks to its local charm and initial $28,000 price tag. But then the price soared, sales failed to pick up, and now it appears the Norwegian maker of the Think City couldn't cling on any longer. Think Global has filed for bankruptcy and will be liquidated in an attempt to pay off its creditors, including US battery producer and investor Ener1, which is making a $33 million charge on the company's assets. It's sad to see any such enterprise fail, but Think Global might one day be seen as a victim of the success of the EV industry, which is beginning to see better competition and lower prices.
Inside the giant batteries that will power Russia's Sochi Winter Olympic Games (video)
Clean and constant power is something that we take for granted here in the Americas. Sure, we've seen rolling blackouts in California before, and that outage in the Northeast back in 2003 was decidedly uncool, but those are the exception to the norm. Right now many Japanese citizens are dealing with power problems in the wake of the devastating tsunami, but in parts of Russia unreliable power is a decidedly reliable part of day-to-day life. So, what's going to happen when a couple-hundred-thousand fans from around the world swoop into Sochi in 2014, along with a flotilla of international media and all the world's greatest athletes? The Winter Olympics will happen, and the power will flow. It has to, and it will thanks to that unassuming looking shipping container above. It's being assembled at Ener1's facility outside of Indianapolis, and it's actually a giant battery holding an amazing amount of power -- enough to juice 1,000 average homes for an hour, or to act as the mother of all UPS's. Join us for a look inside and a video show how each of those packs is made. %Gallery-119744%
Think City electric car gets bigger American batteries for bigger American roads
The electric Think City has been targeting an American release for well over two years now but, like many EVs, those dates just kept on 'a slipping. Now the cars are finally starting to hit the colonies and, as a reward for the wait, we're receiving models with more powerful batteries. The cells are supplied by Indiana-based Ener1, a new lithium-manganese pack that offers 25kWh. Those cells are said to double the car's previous expected range, up to 100 miles from 50, yet still recharge in a scant four hours -- if you're using a 240v plug. The folks at Green Car Advisor managed a maximum of 68mph in the two-seater and, driving in a decidedly non-eco-minded way, managed 43.5 miles with 38 percent left, giving an estimated 75 miles for those with leaden right foots. That, at least, is promising, and while a $28,000 MSRP is rather a bitter pill, it's a good bit cheaper (though smaller) than the Nissan Leaf. And don't forget that Uncle Sam would be happy to knock at least a few grand off of that price, too.
