Earlier this year it came out that Apple was being sued by battery maker A123 Systems for poaching one of its top electric vehicle battery engineers. While A123 has said it is getting out of the EV business, the lawsuit also alleges that Apple has lured away other big battery builders, lending credence to rumors […]
Browsing the "A123 systems" Tag
Originally posted on EV Obsession Just a month ago, hardly anybody entertained the notion that tech giant Apple might one day build its own electric car. Yet in the past few weeks rumors like Apple trying to poach key automotive employees from Tesla, as well as battery maker A123, make it seem all but certain […]
The rumors that Apple is working on an electric car codenamed Project Titan just got a lot stronger with a lawsuit by A123 Systems that accuses the iPhone maker of stealing key EV battery engineers. Reuters reports that beginning in June of 2014, Apple began approaching key employees of A123 Systems, including several in leadership […]
SolidEnergy Systems claims it has developed a lithium-metal battery with twice the energy density as the Tesla Model S, but at less than half the cost
Wanxiang is going to fight Tesla using the same tactics as Elon Musk. Mr. Lu will be starting his electric car ambitions in America before coming to China.
After suspending production due to a lack of profitability, EV truck maker Smith Electric found a $42 million lifeline to keep the company moving forward.
Representatives of the Wanxiang Group have pledged to restart Fisker Karma production within a year, and to complete development of Fisker Atlantic.
The dust has settled, and pending approval by the courts, China’s Wanxiang will become the owner of Fisker Automotive for $149 million.
With Fisker Automotive on the brink of bankruptcy, there are those of us left wondering how this small niche automaker managed to spend $1.3 billion of public and private investments in just a few short years. A new report lays out in detail how Fisker Automotive blew through a billion dollars, while developing and delivering just over 2,000 vehicles, becoming possibly the biggest venture capital blunder in history.
Fisker Automotive made claims of $140 million against A123 Systems (now called B456 Systems. They moved onto the next letter in the alphabet and used the three numbers after 123) because of the rejection of its supply agreement and alleged breach of warranty obligations. The claims were $91.2 million for damages caused by rejection of its supply agreement, and $48.7 million for a breach of warranty obligations. But most of these claims were rejected.
Speculation over Henrik Fisker’s sudden departure from the company bearing his name has centered around the plan to court Chinese investors. But a new report suggests that the differences between Fisker and CEO Tony Posawatz went much deeper than that, with the two pitching very different visions of the green car company’s future.
2012 was not a good year for Fisker Automotive, and the beleaguered green automaker may turn to Red China for salvation. After shopping around for some Sino investors, Fisker may have found what its looking for in Chinese automaker Dongfeng. Dongfeng may purchase an 85% stake in Fisker for around $350 million, rumor has it.
Call it the worst case scenario come true. After going through a court-managed bankruptcy and auction, defunct EV battery maker A123 Systems has been (mostly) sold to Chinese auto parts maker Wanxiang group The selling price of $256.6 million was the highest bid, though the sale still has to be approved by the government.
2012 has not been a good year for Fisker, and the bad news just keeps coming. With the bankruptcy of its main battery supplier, A123 Systems, production of the Fisker Karma plug-in hybrid has been halted. Not good.
Around the world, automakers that were once bullish on electric vehicles, investing billions into new battery and motor technology. But a harsh reality of low EV sales mixed with an uncertain economic outlook, especially in Europe, has settled over the industry. So it isn’t the least bit surprising to hear that the Opel Adam EV has been cancelled…mostly due due to high costs.
The bankruptcy of American battery maker A123 Systems was another blow to President Obama’s green energy loan program. Yet as the consolidation of the battery industry continues, crucial questions are arising about the deals made between battery makers and electric car companies. While A123 wants to void a contract it made with Fisker Automotive, Fisker says that would disrupt the deployment of its plug-in hybrid Karma.
After a difficult year and much lower-than-expected sales of electric vehicles, battery maker A123 systems has filed for Chapter 11 bankruptcy protection in Delaware. The company has agreed to sell its remaining automotive assets to Johnson Controls. Let the game of political football over the $249 million green energy loan A123 received in 2010 begin.
The cottage industry of electric vehicle conversions was hoping to ride the wave of EV fever into a much larger market. Unfortunately, the high cost of conversions means there are few takers, and several conversion companies have already gone out of business.
Yet Auburn Hills-based ALTe Powertrain Technologies believes there is still a market for EV conversions…it just isn’t in the U.S.
The recent economic turmoil has had plenty of victims, among them a number of cleantech companies like Solyndra. These greentech failings certainly have short-term consequences that include loss of employment, but many business commentators have noticed a disturbing trend, especially in the EV battery market.
Is America really surrendering its lead on electric cars just a few short years into this experiment? It is starting to look that way for five reasons I outline below.
Earlier this week, A123 systems announced that the company had been tapped to provide high-capacity (up to 45 kWh!) li-ion battery packs for the upcoming Smith Newton 7.5 ton, medium-duty commercial truck – which already sees service in fleets owned by such diverse outfits as Pepsi, Staples, and the US Marines Corp. One of my […]