"We have made a strategic decision to continue to develop environmentally friendly cars," claimed Ingvar Sviggum of Ford Motor Europe, but Ford now prefers to focus on so-called "hybrid" cars that can use other sources of energy.
Ford has invested NOK 1 billion in development, machines, the Think factory and marketing, but only 1,000 cars have been sold to date.
"We will try to find a new owner who can continue operations," said Sviggum. A group has been formed to find a buyer, but if efforts fail, 120 employees at "Think" stand to lose their jobs.
Ford owns 100 percent of Think Nordic, which posted good results for 2001 because Ford in the US bought competence and technical know-how from the firm. Think sold cars for a total of NOK 85 million, while it sold expertise worth NOK 300 million.
Ford's move comes despite a recent agreement for Think to provide cars to the London police and to authorities in Edinburgh.
It remains unclear whether Ford will simply start production of "Think" cars elsewhere.
