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a123 systems

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    Official: A123 says goodbye to grid storage batteries, focuses again on electric vehicles
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    Lithium-ion battery maker A123 Systems is officially unplugging from the grid. The company, which was acquired by Wanxiang Group last year, is selling its grid-storage business to Japan-based NEC Corp. The company's Massachusetts and Missouri facilities are going along with it. A123, whose ...

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    Report: Wanxiang wants to restart Fisker Karma production as quickly as possible
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    It appears that Wanxiang America's $149.2-million acquisition bid was about more than just owning the assets of Fisker Automotive. The Chinese auto parts maker is apparently serious about getting the Karma plug-in hybrid luxury vehicle back on the production line. "We will want to get the ...

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    Official: A123 to collaborate with SolidEnergy on a battery to quadruple range
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    A123 makes a pretty good lithium battery that has a high-cycle life and can put out loads of power. What it's not so good at, however, is holding a lot of energy. At least, not when compared to the Panasonic cells that Tesla Motors uses in the Model S. Sure, it's great for hybrids and city-car ...

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    Official: A123 Systems, now B456, wins court approval to exit bankruptcy
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    It's official: A123 Systems Inc. is passing through its final phase. The bankrupt lithium ion battery maker, now going by the name B456 Systems Inc., has won court approval for its plan to exit bankruptcy that pays off creditors from proceeds gained by selling off virtually all of its ...

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    Official: ​A123 reborn as technology incubator A123 Venture Technologies
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    Lithium-ion battery developer A123 Systems is re-emerging from its bankruptcy and sale to China-based Wanxiang Group as ... well, we're not sure exactly what. Wanxiang is starting a new division called A123 Venture Technologies, Green Car Congress says. The buzzwords are strategic partnerships ...

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    Report: A123 sale to Wanxiang Group approved by US government
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    Wanxiang Group's acquisition of lithium-ion battery maker A123 Systems has been approved by the US government, according to a statement from the Chinese auto parts maker. Wanxiang's US unit had agreed to pay $257 million for A123's automotive battery business and related assets in a bankruptcy ...

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    Official: A123 expects Wanxiang sale to be finished by Feb. 1
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    The bankruptcy proceedings for A123 Systems are moving relatively smoothly toward completion, and it looks like Wanxiang America Corp. and Navitas Systems LLC should complete the transactions within the guidelines of the court-ordered asset purchase agreements by February 1, 2013. Chinese parts ...

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    Report: Fisker to delay Karma production because of A123 battery shortage
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    Fisker Automotive will postpone production of its Karma extended-range plug-in vehicle until the future of bankrupt battery maker A123 Systems is resolved, Bloomberg reports, citing an interview with the automaker's CEO. During an interview at this week's Los Angeles Auto Show, Tony Posawatz ...

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    Report: A123 bidding starts soon from as many as four companies
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    Let the bidding begin. In a few weeks, of course. A123 Systems will likely receive offers from at least four companies when the bankrupt lithium-ion battery pack maker starts receiving bids on December 6. Johnson Controls and China-based Wanxiang Group Corp. will likely be the lead bidders, ...

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    Report: A123 wants to access $50 million from Wanxiang
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    Think of it as a refi going to the highest bidder. Bankrupt lithium-ion battery maker A123 Systems is looking to access a $50 million loan from China-based auto-component maker Wanxiang, which is offering terms at an interest rate that's three percentage points lower than competing bidder ...

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    Report: Fisker asks bankruptcy judge to delay A123 asset transfer to Johnson Controls
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    A123 System's bankruptcy created a quite a stir in the plug-in vehicle industry. Now, Fisker is asking the judge that the bankruptcy auction be delayed by a minimum of 30 days so that creditors' value "may be realized through higher and better offers." Fisker is involved in A123 because the ...

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    Electric drive industry responds to A123's bankruptcy, takeover by Johnson Controls
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    Something interesting happened after A123 Systems filed for bankruptcy last week: the plug-in vehicle industry circled the wagons. AutoblogGreen received press releases and statements from a variety of electric vehicle (EV) players that, when taken as a whole, seem to indicate this particular ...

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    Official: A123: "no assurance" we won't go bankrupt *UPDATE
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    Let's start the day off with some less-than-encouraging news for anyone who's been rooting for A123 Systems: bankruptcy may be just around the corner. In an Securities and Exchange Committee filing yesterday (download or view it here), A123 says it "does not expect to timely pay" the next ...

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    Report: New Enerdel CEO: Shifting away from EVs means profits in late 2013, or maybe 2014
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    For companies in the lithium battery business, multi-segment marketing has become a necessity. A few years ago, electric vehicles looked like the next smartphone-like growth area for battery makers. Now, it's more turmoil than profits for some battery makers. David Roberts is CEO of one of these ...

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    Why Bob Lutz is wrong about A123 Systems' new Chinese investor
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    A message to Bob Lutz, former General Motors vice chairman, and proponent of the Chevrolet Volt and Via Motors' plug-in electric vehicles. Regarding your guest column in Forbes lambasting the federal government for granting battery maker A123 Systems a Department of Energy grant and allowing a ...

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    Official: A123 Systems brings in Chinese investor to calm the waters
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    If you're lithium-ion battery maker A123 Systems and have been through the public image ringer with the Fisker Karma battery pack recalls and an explosion at General Motors' Warren Tech Center, what do you do? After all, getting U.S. Dept. of Energy Grants, rolling out a resilient Nanophosphate ...

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    Report: A123 running perilously low on cash
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    According to a report from Reuters, lithium ion battery maker A123 Systems is dangerously low on cash. The company filed a report just before the weekend with the U.S. Securities and Exchange Commission indicating that it "expects to have approximately four to five months of cash to support its ...

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    Report: Fisker loan spurs more questions from senators
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    Um, about that $337 million. Fisker Automotive and its pending federal government loan has spurred a letter from two U.S. senators to Energy Secretary Steven Chu questioning the appropriateness of the loan, The Detroit News reports. In their letter to Chu, senators John Thune (R-South Dakota) ...

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    Official: A123 says it has a "breakthrough" battery technology in Nanophosphate EXT
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    What does "Nanophosphate EXT" sound like to you? If you're David Vieau, the CEO of A123 Systems, releasing a PR statement, it's "a game-changing breakthrough that overcomes one of the key limitations of lead acid, standard lithium ion and other advanced batteries." If you're Vieau talking to the ...

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    Report: A123 Systems will hire 400 new workers despite uncertain future
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    A123 Systems may have expressed doubt in its ability to continue as a going concern in a recent financial filing, but that doesn't mean the company has given up. Indeed, due to increases in its power-grid and commercial transportation portfolios, it has announced it will be hiring an additional ...

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