Ford has already invested upwards of £62m in the Think project - which also had the backing of the Norwegian Government. The move forms part of Ford's global debt-reduction plan as well as delivering on its strategy of concentrating on the development of hydrogen fuel technology.
In August Ford said it was pulling the plug on the Think program after disappointing sales and lack of government support for electric vehicle programs reduced its mass market viability.
Think's Oslo plant has the capacity to produce 4000 cars a year, but only about 1000 have been sold. More than 1000 workers at the plant have been laid off since Ford announced it was to sell the business.