Report: GM to purchase Cobasys
While the issue of the nine-thousand recalled batteries from Cobasys remains a bit murky, General Motors may be inclined to just purchase the troubled battery-maker altogether. While we're not entirely sure that another money-losing operation is exactly what GM needs right about now, we can be sure that GM needs those nickel metal hydride batteries for its current range of mild hybrids. Right now, Cobasys is co-owned by Chevron and Energy Conversion Devices, though the two companies have been bickering a bit as of late regarding their joint-ownership responsibilities. It was revealed in court that some sort of offer to purchase Cobasys was being considered, which put an early end to those proceedings.
It's difficult to say what impact the purchase of Cobasys could have on future hybrid offerings from General Motors. We're certain, though, that fuel efficiency is on the minds of consumers these days, so we'd be surprised if GM didn't have big plans for the fuel-saving technology in the near future.
[Source: Automotive News - sub. req'd]
Reader Comments (Page 1 of 1)
meme 1:19PM (6/06/2008)
Okay -- let's see the conspiracy theorists go crazy over this one ;)
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Sasparilla 12:28PM (6/06/2008)
Funny, after GM axed the EV1, they sold their partnership with ECD (patents and rights to NiMH battery technology) to Texaco (which was bought by Chevron) presumably to be buried forever. In this current partnership (Cobasys) Chevron gets to say yes or no to every transportation related sale of NiMH batteries. EV enthusiasts have never been allowed to buy them from the company.
Now here we are 5 years later and GM is buying Cobasys. I wonder if, as part of their agreement to sell their share of things to Texaco, they gave themselves an option to buy it back in the future? I wonder if they will be taking over Chevron's share in the company and/or removing its ridiculous controls over transportation related NiMH sales?
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philmcneal 12:47PM (6/06/2008)
yea too much conspiracy, just buy them out already and pump out the cars or say screw you to those who invested in the mild hybrid system and use the upcoming lithium mild hybrid system
http://www.greencarcongress.com/2008/03/gm-announces-ne.html
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pedmac 2:14PM (6/06/2008)
with oil at 136 buck and gasoline going to go well over 4 bucks this summer..it makes complete sense to buy Cobasys at this time ..especially since its probably at a Sale price .since they had those battery problems . and the ceo at energy conversion devices is more keen on his solar biz than the battery biz.. unlike stan he is more into wat is making money now and not looking to brightly into the future.. i think they are crazy selling 100 pct of the company ..but i think in the end will be a great buy for GM .
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