Browsing the "A123 systems" Tag

How Fisker Burned Through $1.3 Billion

April 19th, 2013 | by Christopher DeMorro

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


Fiskers Claims Against A123 Systems Cut By 89%

April 10th, 2013 | by Nicholas Brown

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


Fisker Walked Out Over Funding, Operating Budget

March 20th, 2013 | by Christopher DeMorro

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


Fisker May Sell 85% Stake To Chinese Car Company

February 18th, 2013 | by Christopher DeMorro

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


China’s Wanxiang Buys Battery Maker A123 Systems For $260 Million

December 10th, 2012 | by Christopher DeMorro

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


Opel Adam EV Cancelled, High Costs Cited As Factor

November 9th, 2012 | by Christopher DeMorro

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


A123 Systems Wants To Void Fisker Contract: Fisker Says Not So Fast

November 6th, 2012 | by Christopher DeMorro

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.


Battery Maker A123 Systems Files For Bankruptcy

October 16th, 2012 | by Christopher DeMorro

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


ALTe Takes EV Conversions To China For Survival

September 12th, 2012 | by Christopher DeMorro

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.


5 Reasons America Is Giving Up On EVs Already

August 13th, 2012 | by Christopher DeMorro

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



Back to Top ↑