Think Global, the electric car maker, announced that despite recruiting a Ford exec as CEO in August and conducting high mileage tests of its City, the Internet-enabled electric car, the company may have finally hit a wall due to the sagging economy, according to Fortune. Think CEO Richard Canny told Green Wombat Tuesday that it has temporarily halted production of its City urban runabout and laid off half its workforce as it considers a sale to survive the credit crisis.

"Think is in a situation where we can't grow anymore," Canny said in the report. "We have started an emergency shutdown to protect our capital and our brand. We'll need a new and stronger partner, whether that is a 25% owner or a majority owner or someone who buys the company."

The City was notable in that it was built-to-order for each customer, and that all of them were Wi-Fi and Internet-enabled so that each car can communicate with its driver, other Think owners, and the power grid. The article named Google as one potential suitor, given that several main aspects of Think Global were originally proposed at a brainstorming summit Google held back in 2006, and that Google is currently investing tens of millions of dollars in green energy companies and electric car research, according to the report.