BD Otomotiv in Talks to Take Over EV Maker Think

The Turkish investment group BD Otomotive said in a statement thant it is in advanced negotiations to rescue tiny plastics-body electric car maker Think Global AS from collapse. According to the statement, BD has completed its due diligence on the deal and has approval from its board to complete the transaction, the statement said.

Think filed for banktruptcy on June 22nd after attempts to keep the company going through recapitalization and restructuring failed. A court-appointed trustee from Oslo-based commercial law firm Thommessen has control of Think and is handling negations with BD Otomotive.

BD Otomotive is the exclusive distributor of Fisker and BYD vehicles in Turkey. The company owns and operates production facilities in Turkey and Italy that help convert fuel-powered light commercial vehicles into electric vehicles (EVs). It also assembles automotive battery packs and has a recycling plant for lithium ion and other industrial batteries. In addition, the group has invested in EV charging infrastructure, owns and operates charging stations across Turkey and is a distributor of Fisker Automotive’s plug-in hybrids.