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    Official: A123 says goodbye to grid storage batteries, focuses again on electric vehicles

    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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    Official: A123 to collaborate with SolidEnergy on a battery to quadruple range

    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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    Report: New CEO for A123 Systems as battery company turns more to China

    A123 Systems, the lithium-ion battery maker that was acquired out of bankruptcy in January, has promoted Jason Forcier to chief executive officer and said it would attempt to build up its business by attracting more China-based customers, Reuters reports. The company also said its executives ...

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    Report: Did Fisker put too much blame on A123 Systems for overall failure?

    Bad business partner or scapegoat? When it comes to battery maker A123 Systems and its role in Fisker Automotive's troubles, one conveniently anonymous source says its the former, alleging that the extended-range plug-in vehicle maker had plenty of problems of its own, Fox Business ...

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    Official: A123 Systems, now B456, wins court approval to exit bankruptcy

    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

    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: Fisker, A123 settlement reducing $140m in claims to $15m approved

    Fisker Automotive and what was formerly A123 Systems have received approval of their settlement in which Fisker's claims against the bankrupt battery maker were reduced by 89 percent, Bloomberg News reports. Fisker's claims against what's now B456 Systems were reduced to $15 million from $140 ...

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    Report: Fisker, A123 settle $140m supply claims for just $15 million

    Any self-respecting dealer would refuse to sell a Fisker Karma extended-range plug-in for a mere $12,000, but Fisker Automotive may be taking that approach with former battery supplier A123 Systems by settling for about 11 cents on the dollar in a bankruptcy-court claim. The California-based ...

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    Report: Bankrupt A123 Systems can ask creditors to vote on repayment plan

    Details of the A123 Systems bankruptcy proceedings are getting ironed out, and have been given the green light by US Bankruptcy Judge Kevin Carey. The federal judge approved an outline of lithium ion battery maker A123's liquidation plan to be used by creditors, who will decide whether to vote ...

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    Report: Fisker says A123 is discounting its debt levels

    Fisker Automotive is accusing battery maker and former vendor A123 Systems of funny math after the latter company filed documents of its debt levels with the US Bankruptcy Court, Reuters says. The California-based maker of the extended-range plug-in Karma says A123 owes it more than $212 ...

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    Report: Fisker hires consultant, may seek bids next month

    Fisker Automotive has hired a consultant to oversee day-to-day operations in an effort to conserve cash, and may seek partner or acquisition bids next month, Bloomberg says. Fisker spokesman Roger Ormisher says the California-based maker of the Karma extended-range plug-in luxury vehicle has ...

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    Report: A123 sale to Wanxiang Group approved by US government

    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

    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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    Official: Johnson Controls appeals Wanxiang's A123 purchase

    Johnson Controls isn't taking the bankruptcy sale of A123 Systems to the Chinese company Wanxiang lying down. Wanxiang won the bankruptcy court sale for $256 million on December 11 and, today, Johnson Controls has filed an appeal against the sale because it "objects to delay in payment of ...

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    Report: Fisker pausing production until A123 sale is finalized

    The pending production schedule for the Fisker Karma is pretty much at the mercy of US regulators, as the California-based maker of the extended-range plug-in won't start things up again until the ownership issue of bankrupt battery-maker A123 Systems is settled, Automotive News reports. Fisker, ...

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    Report: A123 loses $116 million US grant remainder due to Wanxiang acquisition

    Bankrupt lithium-ion battery maker A123 Systems may have gained a new owner, but will lose a lot of money in the pending sale to China-based Wanxiang Group, Reuters reports, citing an unidentified US Energy Department official. Specifically, A123, which filed for bankruptcy in October, will ...

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    Report: Fisker to delay Karma production because of A123 battery shortage

    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 received $950k from feds on bankruptcy-filing day

    And in the "one hand didn't know what the other hand was doing" department, we have this. Lithium-ion battery-pack maker A123 Systems received almost $1 million in federal funding the day it filed for bankruptcy, Reuters reports, citing a letter the company sent to Republican Senators John Thune ...

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    Report: A123 bidding starts soon from as many as four companies

    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, Wanxiang deal under scrutiny by Republican Senators

    Lithium-ion battery maker A123 Systems continues to be a source of drama and intrigue, from bankruptcy and court filings to investor relations and national security. Two US Senators want the Committee on Foreign Investment in the United States (CFIUS), led by Treasury Secretary Timothy Geithner, ...


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