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Norwegian EV maker Think files for bankruptcy

Tiny electric car maker Think Global AS filed for bankruptcy today in its home market of Norway after attempts to keep the company going through recapitalization and restructuring failed, the company said in a statement. It is the fourth time Think has collapsed financially in its 20-year history. "We needed some additional funding and although we had interested investors they were not able to come to the table quickly enough," Think spokesman James Andrew told Automotive News Europe.

Hyundai increasing European production to 500,000 a year

Hyundai are upping production in Europe to 500,000 per annum There’s an awful lot of sense in car makers designing and building cars for the markets they serve locally, and it’s a route Hyundai has followed in Europe, where the majority of their sales are of European built models, not imports. With Hyundai sales still growing despite the European car market meltdown, Hyundai are increasing capacity in Europe to keep up with demand with further investment in their plant in Ízmit, Turkey. Originally, the Ízmit plant produced just 60,000 cars a year, but in 2007 that was increased to 125,000 and now it is being increased to 200,000 so the new i10 can be built there as well as the latest i20.

Aston Martin signs Christian Klien as final factory driver

Ex-Formula One driver Christian Klien has completed Aston Martin Racing's factory driver lineup, the team said on Wednesday. He will join his new teammates in the all-new LMP1-class 007 AMR-One in the 24 Hours of Le Mans. Klien competed in 49 F1 races since 2004 and drove for Peugeot in Europe's Le Mans Series, and in 2008, he had both the fastest lap and finished third in the 24 Hours of Le Mans.