After a long process of on-again, off-again pseudo confirmations of potential sites, Norwegian EV company Th!nk has officially chosen Elkhart, Indiana, as the location of its U.S. electric car manufacturing facility. For a company that, as recently as a year ago, was swirling in the flushed toilet bowl of failed EV startups, this marks a major turning point.
In the economic downturn of the last 2 years, Th!nk hit some very rough patches, eventually declaring bankruptcy and then, as part of a restructuring deal, was financed and bought by several investors, including the Indiana based battery supplier, Ener1. So, really, siting the manufacturing facility in Indiana only makes sense for a company that is largely financed by another Indiana-based company.
According to the Elkhart Truth, the Elkhart site was chosen after negotiations with a property owner in Middlebury, Indiana, broke down. The Elkhart city council voted to give Th!nk a phased in tax credit that should provide about $3 million dollars in savings to the company.