This is an excerpt from EERE Network News, a weekly electronic newsletter.

November 06, 2002

ZAP Offers to Buy "Think" Electric Vehicle Assets from Ford

ZAP—a California marketer of electric scooters, bicycles, and other vehicles—announced on October 31st that it has offered to buy Ford Motor Company's electric vehicle assets for $10 million in cash, stock, or warrants. Ford announced in late August that it was abandoning its Think brand of battery-powered electric vehicles, focusing instead on developing hybrid electric and fuel-cell vehicles. That announcement led Ford-owned Think Nordic, producer of the two-seater Think City car, to ask the Norwegian government for economic support to help keep the company solvent. In making the purchase offer, ZAP noted that the Think City is one of the few electric vehicles that are freeway-capable and were designed from the ground up as electric vehicles. See the ZAP press release and the Think Web site (and if you read Norwegian, note that the Norwegian version of the site has more information than the others).

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