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Mercedes-Benz unveils its revamped G-Class

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The all-new G-Class makes its public debut at the Detroit auto show in G550 form. Completely redeveloped and fitted with a 4.0-liter V8 biturbo gasoline engine offering 427ps and 450 lb-ft of torque at 2,000rpm to 4,750rpm, despite near-identical looks to its predecessor plenty has changed for the Mercedes-Benz SUV.


Ford’s F150 pickup gets its first diesel motor

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Developed by the powertrain team behind the 6.7-liter Power Stroke engine for super duty trucks, the all-new 3.0-liter V6 Power Stroke unit promises 250ps, 440 lb-ft of torque, and an anticipated 5175kg of towing capacity.


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In light of Fisker's solid-state battery breakthrough and claims of a one minute charge time, will this electric vehicle technology development kick-start mass BEV uptake? 

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Russian entrepreneur acquires THINK

Electric vehicle manufacturer, THINK Global, has been purchased by a technology entrepreneur based in Russia.

A court-appointed trustee selected Boris Zingarevich, whose investment operations are based in St. Petersburg, as the winning bidder following a bankruptcy proceeding initiated by the Norwegian OEM last month.

Zingarevich has also signed a memorandum of understanding with American advanced lithium-ion battery maker Ener1 and Finnish automobile engineering and manufacturing company Valmet Automotive to cooperate in relaunching THINK.

“Having achieved the position of one of the world’s most highly regarded electric vehicle products, the THINK brand is a valuable asset that deserves to continue its key role in the global shift to electrification,” said Zingarevich. “With the potential of working with the leading American automotive lithium-ion battery maker and Europe’s top automobile engineering and manufacturing company, I believe we could have exactly the right combination and value chain to ensure that the brand will be increasingly competitive in the worldwide electric vehicle market.”

The assets of wholly owned subsidiaries THINK North America and THINK UK, which have remained active during the bankruptcy proceeding for THINK Global, were also acquired in the transaction. Financial advisory services were provided by LATUM, a specialized investment banking and services company.

Both Ener1 and Valmet were the senior secured creditors of THINK when the company filed for bankruptcy after failing to raise adequate capital to continue financing operations. Ener1 and Valmet are negotiating stakes in the new company on the basis of a debt restructuring. Zingarevich has been a major investor in Ener1 since 2002 and provided bridge funding for THINK while the company attempted a reorganization before filing for bankruptcy.

The name of the new company that will market THINK brand products is Electric Mobility Solutions. Production is scheduled to restart with a refined version of the THINK City model in the first quarter of 2012. 


26 July 2011


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