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    Risk analysis of building gigafactories in Europe
    Europe and the UK region have witnessed a few high-profile battery companies abruptly filing for insolvency in the recent past, leaving behind a noteworthy setback for the region’s local battery production ambitions. UK’s promising battery startup Britishvolt, which was once hailed by the country’s prime minister, filed for insolvency in January 2023. It was soon followed by the Swedish battery company Northvolt, which represented Europe’s hopes to compete with China’s hegemony in t...
    Insights
    How smart charging technologies are shaping the EV landscape
    The fast-charging sector for electric vehicles is evolving with new technologies and changing consumer needs. A major trend is the rise of ultra-fast charging stations, which can recharge an EV's battery to 80% in just 15 to 30 minutes, significantly reducing drivers’ wait times. Smart charging technologies are also gaining traction, optimizing charging based on grid conditions and energy prices. This includes demand response programs that allow EVs to charge during off-peak hours or when r...
    Insights
    INTERVIEW – “We need to be strong in plug-in market as well to have world-class manufacturing scale,” says Jeff Kessen, vice president of corporate strategy, A123 Systems
    A123 Systems is one of the leading battery manufacturers, especially for the low-voltage segment. However, the company is now looking at developing products for the plug-in vehicle segment that require high capacity battery. This strategy, A123 Systems thinks, will help the company have world-class manufacturing scale and drive growth in future. Jeff Kessen, vice president of corporate strategy at A123 Systems, spoke to Srikant Jayanthan of IHS Markit’s Supplier Insight about what the company ...
    News
    A123 Systems invests in Ionic Materials for solid-state batteries
    A123 Systems has invested in solid-state battery technology company Ionic Materials, the company announced in a press release on 13 February. A123 will work with Ionic Materials to apply their respective innovations in materials, cell design and manufacturing to achieve new levels of safety in high performing batteries for plug-in electric vehicles (EV). A123 Systems is planning to sell batteries using Ionic Materials’ polymer electrolyte technology. Financial details of the deal were not d...
    News
    A123 Systems invests in Solid Power for solid-state battery technology
    A123 Systems has invested in battery technology company Solid Power to develop solid-state battery technology, the company announced in a press release on 13 September, without disclosing the financial details of the investment. “A123 continues to invest in the future and is actively developing a portfolio of high energy density products to complement our historical leadership in high power solutions. We acted early as a series A investor to support a promising solid-state technology and look ...
    News
    A123 Systems appoints Peter Cirino as CEO
    A123 Systems has appointed Peter W. Cirino as its new CEO, according to a press release on 28 August. Cirino has replaced Jason M. Forcier, who left the company on 28 August. Prior to this new role, Cirino served as president, Europe, for A123 Systems.  Before joining A123, Cirino held various leadership positions at sensors manufacturer TE Connectivity and AMP Inc. Commenting on the new CEO appointment, Thomas C. Corcoran, chairman of A123 Systems, said, “In addition to demonstrating ...
    News
    IHS Markit analyzes factors behind expected massive growth in China's 48V mild hybrid demand in future
    Automakers are exploring every possible way to improve fuel efficiency and reduce vehicle emission levels, which are difficult to be met by some OEMs using conventional 12V technology. In the markets where clean legislation is driving electrification rapidly, such as China and Europe, the 48V technology is expected to become a large portion of those fleets in the next 5-10 years time. The relative simplicity of adopting 48V systems within existing vehicle designs and a low integration cost make ...
    Insights
    A123 to close US plants, to invest USD40 million in new headquarters
    Energy storage solution provider A123 Systems is set to close its Livonia and Romulus plants in Michigan,  United States, the company announced in a press release on 3 April. The closure will impact 200 manufacturing employees working in the facilities. A123 Systems also informed that it is setting up a new headquarters in Novi, Michigan, with an investment of USD40 million. The new location will house its corporate office, an engineering center, new laboratory space and a manufacturing pla...
    News
    A123 Systems opens new plant to in Czech Republic
    US-based lithium-ion battery manufacturer A123 Systems has opened a new manufacturing plant in Ostrava, Czech Republic, the company announced in a press release on 2 March. The new facility will manufacture more than 600,000 units of its low-voltage automotive systems annually for European customers. Products from the facility will include 12 volt (V) Lithium-ion (Li-ion) starter battery and next generation 48V battery. The company informed that the production of its 48V program will start later...
    News
    A123 to supply Li-ion batteries to SAIC-GM – report
    Automotive battery manufacturer A123 Systems has won a CNY6.9 billion (USD1 billion) order from SAIC General Motors Corp. to supply lithium ion (Li-ion) batteries, reports Automotive News China, citing a statement by Wanxiang Group, the owner of A123 Systems. The US-based company will deliver 2.6 million Li-ion batteries for 48 volt (V) start-stop systems that will be used in vehicles to be produced by GM's joint venture with SAIC Motor.  Significance: A123 Systems manufactures batteries...
    News
    A123, Argonne National Laboratory to collaborate on cathode development programme
    Lithium-ion battery and systems manufacturer A123 Systems LLC and Argonne National Laboratory will collaborate on a cathode development program that will aim to create safe lithium-ion batteries with high energy densities and long lifetimes, the company said in a press release on 8 September. With A123 playing the lead role, the two organizations will produce safe advanced cathode materials for use in transportation applications that require substantial improvements in electric driving range,...
    News
    Investments (Issue 3, 2016)
    Company Region Area of operation Investment Comment A123 Systems Czech Republic Batteries - A123 Systems plans to open a manufacturing plant in Ostrava, Czech Republic, to produce  12V, 48V batteries. The production is expected to begin in the second half of 2016. The location will ...
    Insights
    A123 Systems to open new manufacturing plant in Czech Republic
    A123 Systems plans to open a manufacturing plant in Ostrava, Czech Republic, to produce  12V, 48V batteries, says a press release. The production is expected to begin in the second half of 2016. The location will establish regional assembly of A123’s 12V lithium-ion starter battery and next generation 48V battery. The system assembly capacity in phase one of the plant is expected to exceed 600,000 units on an annual basis. The company expects to touch this production level in next few yea...
    News
    Shifting Horizon
    We have to create new products because some of our current products won’t give us bread and butter in the future,” said Yasumori Ihara, president of Aisin Seiki at 2015 Tokyo Motor Show held in Japan. Aisin Seiki is one of the major suppliers to Toyota and develops components such as engine parts and transmissions. Ihara’s comments were with reference to Toyota’s ambitious goal of selling around 900,000 fuel cell electric vehicles (FCEVs), plug-in hybrids (PHEVs) and elec...
    Insights
    Hanwha to supply battery-making equipment to Wanxiang
    South Korean battery-manufacturing equipment company Hanwha Corporation has announced it has secured a KRW22-billion (USD18.7-billion) order from Chinese parts supplier Wanxiang Group, reports the Maeli Business. The report states that the secondary batteries undergo three major production processes: manufacturing cathodes and anodes that make up the battery plates, assembling them into batteries, and embedding electrons into the batteries. Hanwha will supply the last-stage facility to Wanxiang....
    News
    Payback time
    It is payback time for Johnson Controls (JCI). The auto component major has been unable to live up to its promise of creating a specified number of manufacturing jobs in Michigan (United States). As a consequence, the firm will now have to pay back a portion of the USD75 million that the state of Michigan had provided to JCI. In return for the funding incentive, JCI was to ensure a minimum of 400 jobs at its electric and hybrid vehicle battery factory in the state. Currently, the plant has 225 ...
    Insights
    A123 Systems appoints Chris Eisenhart as chief operations officer
    A123 Systems has appointed Chris Eisenhart as its new chief operating officer, the company announced in a press release last week (19 October). Eisenhart will be responsible for A123’s manufacturing, quality and supply chain organizations globally and administer the company’s plan to double manufacturing capacity within the next two years. Chris has previously worked with the Ford Motor Company, Spartanburg Steel Products, Johnson Controls and Lear Corporation. Significance: In June...
    News
    Lawsuit against A123 Systems for hiding bankruptcy, battery problems by Fisker investors dismissed
    A Manhatten federal judge has dismissed a securities case filed against four executives of A123 Systems for hiding bankruptcy and battery problems from Fisker investors, reports Reuters. The investors claim that as Fisker suffered setbacks and was eventually acquired by Chinese automotive parts maker Wanxiang last year, A123 executives failed to disclose its true financial position, thus fraudulently inflating A123’s stock price.   The judge dismissed the case on grounds of lack of ...
    News
    Q&A: 24M
    Energy Innovators In a bid to overhaul the lithium-ion battery industry, MIT professor Yet-Ming Chiang co-founded 24M in 2010 with Throop Wilder and spun off from parent battery company A123 Systems. The company employs a novel approach to develop li-ion batteries which it claims can reduce manufacturing costs by 40% and cell costs below USD100/kWh. Chiang feels that the existing lithium-ion battery has “inefficiencies both in cell architecture and manufacturing processes”. The con...
    Insights
    UQM promotes Joseph Mitchell to COO, interim president and CEO
    UQM Technologies has promoted Joseph Mitchell to the position of chief operating officer (COO) with additional responsibilities of interim president and CEO, effective immediately, said a company press release on 21 July. Eric Ridenour, UQM’s former CEO, president and director, has left the company to pursue other interests. The company is looking out for a permanent CEO through a disciplined search process. John Sztykiel, UQM director and former CEO of Spartan Motors, will be the board o...
    News
    Johnson Matthey records 6% y/y growth in group sales in Q1
    For the first quarter ended 30 June 2015, Johnson Matthey recorded an underlying profit before tax of GBP94 million (USD147 million), a drop of 1% compared to the same quarter last year, the company reported in a press release yesterday. The group sales increased 6% y/y to GBP797 million (USD1.25 billion). The sales were supported by growing demand for catalysts, which boosted sales in Emission Control Technologies and Process Technologies. However, uncertain market conditions in platinum group ...
    News
    'Made in the United States' Li-ion batteries
    A report recently released by the US DOE’s Clean Energy Manufacturing Analysis Center (CEMAC) shows that a lithium-ion (Li-ion) battery for a 2014 plug-in hybrid model (PHEV) can be estimated to be valued at around USD571 per kilowatt hour (kWh). This estimate indicates that Li-ion batteries are still significantly expensive and a long way before industry can reach DOE’s battery cost target of USD125 per kWh by 2022. The report shows that the US has expertise in assembling Li-ion ba...
    Insights
    SLAC, Stanford researchers discover way to avoid dendrite growth on Li-metal anodes
    Researchers at the SLAC National Accelerator Laboratory together with Stanford Massachusetts Institute of Technology (MIT) researchers have discovered how to prevent dendrite growth on lithium metal anodes and minimize electrolyte decomposition, according to an SLAC press release. The teams are led by Stanford’s Yi Cui, with Yet-Min Chiang (co-founder of A123 Systems) at MIT. The researchers have discovered that the addition of lithium polysulfide (Li2S8) and lithium nitrate (LiNO3) to an ...
    News
    Johnson Matthey's PBT up 3% to USD652.8 million in FY 2014/15
    Johnson Matthey has released preliminary results for the fiscal year ended 31 March 2015. According to a press release, the company's profit before tax (PBT) has moved up 3% year-on-year y/y to GBP440.1 million (USD652.8 million, 31 March 2015). Net sales declined 10% y/y decline to GBP10 billion (USD14.8 billion). “Johnson Matthey performed in line with our expectations in 2014/15, delivering good growth in many areas of our business. Underlying EPS grew by 6% but on a constant currency ...
    News
    A123 Systems plans to double global manufacturing capacity
    A123 Systems plans to double its global manufacturing capacity to 1.5 GWh within three years, according to a statement from the manufacturer of advanced lithium-ion batteries and energy storage systems. In an announcement yesterday (1 June), the company said, to accomplish this, it will expand a previously announced USD100 million capital investment programme by an additional USD200 million, installed in phases through 2018. A123 says the new capacity will support applications and new customer p...
    News
    A123 Systems introduces third generation 12V starter battery
    A123 Systems, an US-based lithium-ion (Li-ion) developer and manufacturer, has announced the introduction of its third generation of 12 Volt Starter Battery for micro-hybrid vehicle applications, according to a company press release. A123 claims that the battery’s UltraPhosphate technology delivers more than 25% improvement in cold cracking power compared to lead-acid batteries. The product is also expected to bring in improvements in cycle life and charge acceptance accompanied by up to 60% w...
    News
    Porsche presents second-generation Le Mans Prototype 919 Hybrid race car
    Porsche has presented the second generation of its Le Mans Prototype 919 Hybrid race car, according to the company's press release. The new racer will compete in highest of the four energy categories in the Class 1 Le Mans Prototype (LMP1 class) - 8 MJ category (recovered energy per race lap). The basic concept of the LMP1 class powertrain comprises a downsized turbocharged direct injection gasoline engine and two different energy recovery systems. This has been retained in the second gener...
    News
    NEC swings to net profit in first nine months of FY2014/15 despite 4% drop in sales
    NEC has reported net income of JPY22.8 billion (USD190 million, 31 December 2014) in the first nine months ended 31 December 2014 compared to net loss of JPY15.1 billion (USD143.5 million, 31 December 2013) during the same period a year ago, according to a company press release. Net sales for the period stood at JPY2 trillion (USD16.7 billion), down 3.9% year-on-year (y/y), while operating income went up 50.1% y/y to JPY35.6 billion (USD296.8 million). NEC operates business through five segm...
    News
    A123 Systems completes sale of battery materials plants to Johnson Matthey
    A123 Systems has completed the sale of its battery materials production facilities to Johnson Matthey, a specialty chemicals manufacturer. A123’s facilities in Changzhou, China produce lithium iron phosphate (LFP), the cathode material for the batteries. As per the supply agreement, Johnson Matthey will supply all of A123’s LFP requirements. Meanwhile, A123 will maintain its research and development (R&D) capability and ownership of intellectual property in battery materials and is ...
    News
    Wrightspeed to deliver 25 hybrid powertrains to FedEx
    California-based start-up firm Wrightspeed has acquired its largest fleet order so far according to a news by San Francisco Chronicle. The company will deliver 25 hybrid powertrains to global delivery giant FedEx headquartered in Memphis, United States. None of the parties have disclosed the exact value of the deal. FedEx also happens to be Wrightspeed’s first customer after purchasing the Route retrofit powertrain kit in May this year. Significance: Wrightspeed, unlike electric vehicle...
    News
    Chinese investigations into foreign firms highlight tensions between the local and global OEMs and suppliers
    The Chinese government has started releasing the findings of various probes into the auto industry, resulting in price adjustments of vehicles and spare parts from foreign brands operating in China. The steady stream of investigations into allegations of monopolistic strategies in China has been conducted by the National Development and Reform Commission (NDRC), with various subsidiary divisions at provincial levels actively conducting the probes. The NDRC has already confirmed it has “fou...
    Insights
    Management changes (Issue 7, 2014)
    3M has promoted Ippocratis Vrohidis as vice-president (VP) for the company’s operations in the Middle East and Africa (MEA) region, effective 1 July 2014, reports AMEinfo. Most recently, Vrohidis served as VP of Finance for Asia Pacific at 3M. In his new role, Vrohidis will be work from Dubai in the United Arab Emirates. Vrohidis succeeded Irfan Malik, who relocated to Saint Paul, Minnesota (United States), as the new VP of finance for International and Staff Operations at 3M, effective 3 July...
    Insights
    A123 Systems expects revenue of USD200 million in 2014
    A123 Systems, a US-based supplier of rechargeable lithium-ion (Li-ion) batteries and battery systems, expects its revenue to reach USD200 million in 2014, reports Automotive News. Under the ownership of the Chinese auto-parts group Wanxiang, the company has introduced several changes which is expected improved its revenue and generate positive cash flow for the first time in its corporate history this year. Among the most important changes, the company eased its focus on a singular Li-ion te...
    News
    Former JCI executive hired to lead A123 Venture Technologies
    A123 Systems has hired a new chief technology officer, Patrick Hurley, who will lead A123's research and development (R&D) group and replaces Mujeeb Ijaz. The R&D arm is part of A123 Venture Technologies, based in Waltham, Massachusetts. Hurley will also be responsible for integrating the company's battery development at operations in China, according to an Automotive News report. The purpose of creating A123 Ventures in May 2013 was to shift away from operating R&D as a separate sys...
    News
    Mergers and acquisitions (Issue 6, 2014)
    Acquirer Acquired Business Sector Comment 3M Sumitomo 3M joint-venture Chemical 3M has entered into an agreement with Sumitomo Electric to acquire the latter’s 25% stake in their joint-venture (JV), Sumitomo 3M, for JPY90 billion (USD884.8 million). After the completion of the latest transaction, Sumitomo 3M will become a wholly...
    Insights
    Fisker to resume Karma production in Finland after fixing 'about 250 bugs' – report
    Wanxiang will resume production of the Karma PHEV after fixing “about 250 bugs” in the vehicle. Source: Fisker Automotive Fisker Automotive's owner Wanxiang plans to launch its second model after the USD100,000-Karma plug-in hybrid electric vehicle (PHEV) in 2017, reports Automotive News. The company hasn’t revealed details of the vehicle or where it would be assembled. Meanwhile, Wanxiang’s US unit's president, Pin Ni informed that the company would resume produ...
    News
    Johnson Matthey to buy division of A123 Systems
    UK-based automotive components supplier Johnson Matthey will acquire a division of A123 Systems, according to company executives during the June 2014 presentation of its annual results. In a statement released by the company, it announced that on 3 June 2014 Johnson Matthey agreed to purchase certain battery material manufacturing assets from A123 Systems LLC, a lithium-ion (Li-ion) battery manufacturer that is part of the Wangxiang Group, for USD26 million. In the transaction, Johnson Matthey w...
    News
    A123 Systems acquires Leyden Energy’s lithium titanate, Li-imide electrolyte technology
    A123 Systems has acquired Leyden Energy’s lithium titanate (LTO) and non-flammable electrolyte (Li-imide) technology for an undisclosed amount, says a press release. Under the deal, key technical staff of Leyden Energy will also join A123 Systems’ R&D Organisation.  Leyden has recently received funding from the United States Advanced Battery Consortium (USABC) to develop technology for micro-hybrid in the automotive market. The company developed an LTO battery technology to oper...
    News
    General Motors (GM) to assemble batteries for Spark EV in-house
    GM is to assemble its own batteries for the 2015 model-year Chevrolet Spark electric vehicle (EV), rather than source them from an external supplier. In a company statement, executive director of GM global transmission and electrification engineering Larry Nitz said: "Using our in-house engineering and manufacturing expertise enabled us to deliver a battery system that is more efficient and lighter than the 2014 Spark EV without sacrificing range. Our successful working relationship with LG Chem...
    News
    NEC's net income up 10.9% y/y to USD327.8 million in FY 2013/14
    NEC has reported a 10.9% y/y increase in net income to JPY33.7 billion (USD327.8 million, 31 March 2014) in the financial year ended 31 March 2014 compared with JPY30.4 billion (USD322.5 million, 31 March 2013) a year earlier, the company said in a press release. The company reported growth in net income despite sales slipping marginally from JPY3.1 trillion (USD32.6 billion) to JPY3 trillion (USD29.6 billion). The company's operating income dropped 7.4% y/y from JPY114.6 billion (USD1.2 billion...
    News
    A123 to sell grid storage business to NEC, to focus on micro-hybrids
    A123 Systems is selling its grid storage business and other energy storage-related assets targeting telecom and IT data storage applications to NEC for about USD100 million, says a press release. NEC will integrate the former A123 Energy Solutions Business unit into a new ‘NEC Energy Solutions’ company, which is expected to begin operations in June this year. Significance: Divesting A123 Energy Solutions Business unit underlines the company’s strategy to focus on automotive application...
    News
    Wanxiang approved for Fisker acquisition
    Chinese supplier company Wanxiang Group has been granted approval from a court in the United States to acquire hybrid car maker Fisker Automotive following its winning bid of USD149.2 million for the company. At a court in Wilmington, Delaware, the United States, the judge Kevin Gross approved the sale of Fisker's assets to Wanxiang. The hearing was at a Bankruptcy Court in Wilmington. Fisker signed for Chapter 11 bankruptcy in 2013 following issues regarding production, suppliers, technical pro...
    News
    Wanxiang wins auction for Fisker
    Chinese automotive supplier company Wanxiang Group has won the auction for bankrupt automobile manufacturer Fisker Automotive, a Reuters report states quoting two sources. The report published 14 February, states Wanxiang outbid the bid made by Hong Kong’s Richard Li. Meanwhile, the Wall Street Journal reports Wanxiang's winning bid is composed of USD149.2m in cash and other consideration, according to a person familiar with the matter. Significance: Wanxiang has already acquired bat...
    News
    Wanxiang to walk away if Fisker price is too high, says chairman
    Wanxiang Chairman Lu Guanqiu told Reuters in an interview that he would walk away if the Fisker price is too high and look for opportunities elsewhere. The chairman was referring to the bids that Fisker may receive for its auction, which will take place on 12 February in the United States. “Of course, we want to pocket Fisker. But, we will bid rationally. Whatever the result, nothing can stop us from making electric cars,” Lu said. Lu also said that his company has an edge over Hybrid Tech...
    News
    Hong Kong businessman Richard Li seeks fast track appeal on Fisker ruling
    Richard Li, Hong-Kong-based billionaire and owner of Hybrid Technology, which is in race to acquire Fisker Automotive, has sought an immediate appeal of a ruling that opened the door for China-based Wanxiang Group as a bidder, reports Reuters. Li’s legal team has filed an emergency motion this week seeking permission for a fast track of a ruling requiring some cash bidding. Significance: Fisker filed for bankruptcy in November 2013 with a plan to sell its assets to Hybrid Technology. The R...
    News
    US Judge rejects sale of Fisker to Hong Kong tycoon-led Hybrid Technology
    A US judge has rejected a planned sale of Fisker Automotive to Hong Kong-based billionaire Richard Li and has ordered competitive auction, reports Automotive News. The order has opened a way for Chinese auto component supplier Wanxiang Group to buy the defunct electric vehicle (EV) maker.   Bankruptcy Judge Kevin Gross refused to accept Hybrid Technology’s offer. He agreed with the opinion of Fisker’s official creditors committee that a competitive auction is the best way to maximis...
    News
    Fisker blames Wanxiang for bankruptcy, urges sale to Hong Kong tycoon
    Fisker Automotive has filed a complaint against Chinese auto parts company Wanxiang, which on Monday (30 December) filed an intention to bid for the automaker Fisker. The automaker says Wanxiang pushed it into bankruptcy, and now aims to gain from the situation. A report from Reuters states that a court hearing on 10 January 2014 will determine the outcome, whether the business will be put to an open auction, or sold to Hybrid Tech Holdings – a company affiliated to Hong Kong tycoon Richard Li...
    News
    Wanxiang makes last minute bid for Fisker
    Automotive parts supplier Wanxiang Group has made a bid for Fisker Automotive, which has led to courts cancelling the planned sale of the company to Hong Kong tycoon Richard Li. Wanxiang has agreed to make a bid of USD24.7m according to a report by Reuters. Wanxiang, via its subsidiary Wanxiang America Corporation, filed papers late Monday (30 December) stating its initial bid, as well as statements supporting its plans to assume some liabilities of Fisker. This has prompted the US Bankruptcy Co...
    News
    Joint-ventures (Issue 9, 2013)
    Company JV Partner(s) Area of operation Comment A123 Venture SolidEnergy Lithium batteries A123 Venture Technologies, a technology incubator owned by A123 Systems, has agreed to collaborate with SolidEnergy, a Massachusetts Institute of Technology (MIT) start-up, on development of high energy battery chemistry, the company said in...
    Insights
    A123 Venture, SolidEnergy to join hands for li-ion battery development
    A123 Venture Technologies, a technology incubator owned by A123 Systems, has agreed to collaborate with SolidEnergy, a Massachusetts Institute of Technology (MIT) start-up, on development of high energy battery chemistry, the company said in a press release. The collaboration will leverage SolidEnergy’s solid electrolyte technology which enables safe and practical use of lithium metal anodes for high-energy density batteries for a wide range of applications. It brings together SolidEnergy’s ...
    News
    A123 System to focus on development of low-voltage hybrids
    A123 Systems intends to shift focus from supplying large batteries for electric vehicles (EVs) to smaller batteries for cars with start-stop technology and mechanisms that convert braking energy to electricity, according to The Detroit News. Additionally, the company has named Jason Forcier its new chief executive officer (CEO). He will oversee all battery cell and transportation related sales, product development and manufacturing activities globally. Forcier had served as vice-president of A12...
    News
    Chinese component makers ramp up production as EV rental schemes gather momentum
    The Chinese authorities have added a series of new measures to ensure that electric vehicle (EV) charging facilities across China meet required standards. A string of proposals on the standardisation of EV charging facilities has been approved by the Technical Standardisation Commission for EV Promotion, Chinese website in-en.com states. Founded in 2010, the panel of experts that reports to the Chinese National Energy Bureau has reviewed and approved seven proposals on regulating technical condi...
    News
    Daimler weighs options for Li-Tec battery JV with Evonik
    Daimler and Evonik Industries are reviewing options for their loss-making battery joint-venture (JV) Li-Tec Battery GmbH, including bringing in a new strategic partner onboard, reports  Bloomberg , citing company spokespersons. However, according to a Wall Street Journal report, which cited unidentified sources, both partners were mooting the sale of the JV and looking for a price of about EUR1bn (USD1.32bn) after efforts to get a third owner failed. "We are lookin g at different ...
    News
    Leyden Energy gets USD2m contract from USABC for lithium ion start-stop batteries
    California (US)-based Leyden Energy has received a contract worth USD2.28m from the United States Advanced Battery Consortium LLC (USABC) for stop-start battery system development, says a press release by USABC. The award is co-funded by the US Department of Energy (DoE) and includes a 50% cost sharing by Leyden Energy. The program will run for 16 months and will focus on developing an advanced lithium-ion 12-V start-stop battery system which meets or exceeds the performance, life and cost t...
    News
    Xiangyang Automobile Bearing buys Poland's FLT Krasnik
    Chinese automotive parts supplier Xiangyang Automobile Bearing signed a contract yesterday (20 May 2013) to acquire Polish bearings company FLT Krasnik, the Polish News Bulletin reports. The deal will cost around PLN300m (USD92m). This follows after the Industrial Development Agency restructured Krasnik in 2010, which was then at the point of bankruptcy. Significance: Xiangyang Automobile Bearing was founded in 1968, and is a state-owned company based in China's Hubei province. The Chinese ...
    News
    A123 reorganisation plan receives bankruptcy court approval
    B456 Systems, formerly known as A123 Systems, has won final approval from a Delaware (US)-based court for its reorganisation plan, reports Associated Press (AP). This is expected to pave the way for an exit of the struggling battery maker from Chapter 11 bankruptcy in about four weeks. Bankruptcy Court Judge Kevin Carey approved the company’s reorganisation plan after most objections were resolved before yesterday’s (20 May) hearing in Wilmington, Delaware (US). One issue was settlement ...
    News
    A123 forms new division to establish partnerships in energy storage domain
    A123 Systems, a wholly-owned subsidiary of China’s Wanxiang Group, has formed a new division to build partnerships in energy storage domain, the company said in a press release. The new division, called A123 Venture Technologies, will help its strategic partners who require infrastructure support to mature and commercialise their technologies by providing access to its test and development laboratories located in Waltham and Hopkinton, Massachusetts and Romulus, Michigan (all in the US). “...
    News
    A123’s settlement with Fisker approved
    The ongoing settlement between A123 Systems, now renamed B456, and Fisker has been approved by a US bankruptcy judge, Kevin Carey, reports The Detroit News. The settlement will reduce Fisker's USD48.7m claim against A123 for breach-of-warranty to a USD15m unsecured claim. Significance: A123 Systems reached a settlement with Fisker Automotive early this month, under which the latter reduced its claims by 89% to USD15m. Fisker was seeking USD140m from A123. The settlement completely rejects th...
    News
    China’s shifting automotive scene
    The flattening of new-vehicle sales in China in 2011 and 2012, following the surge of demand in the preceding years, drew considerable attention in supplier boardrooms throughout the world. Was there a danger of over-committing to China, especially with new opportunities arising in Mexico, Brazil and India? Would the central government’s campaign to cut back on public consumption cause the China’s auto market to taper off? Would supplier overcapacity become an issue? As it happened, most...
    Insights
    Fisker, A123 settle supply claims
    A123 Systems, now renamed B456 Systems, has reached a settlement with Fisker Automotive under which the latter has reduced its claims by 89% to USD15m, reports The Detroit News. The accord with the bankruptcy's unsecured-creditors' committee will substantially cut Fisker's USD140m in claims. According to court documents filed in Wilmington, Delaware (US) on Tuesday (2 April), Fisker’s claims stemmed from a rejection of its supply agreement and alleged breach of warranty obligations. Fiske...
    News
    Update: A123 changing name to B456 Systems
    On 22 March A123 Systems filed a Certificate of Amendment with the US Securities and Exchange Commission to change its name from A123 Systems Inc to B456 Systems. While B456 Systems is the new legal name of former A123 Systems Inc, it reflects those parts of the company which are still in the bankruptcy process. However, the ongoing businesses in automotive, grid energy storage and lead acid replacement, acquired by Wanxiang, continue to operate under the A123 brand and the legal name is A123 Sy...
    News
    Wanxiang acquires US-based parts company BPI
    Chinese supplier company Wanxiang has acquired US-based parts company BPI using a subsidiary, according to SinoCast. Details of the acquisition have not been revealed. Wanxiang's US subsidiary Wanxiang America has acquired the company.   Significance: Although the report does not indicate the full name of BPI, it is likely to be Brake Parts International, which was  acquired on 25 March by a group of investors led by Torque Capital group in New York. Wanxiang has been on a buying...
    News
    A123’s unsecured creditors likely to get 65% of claims
    Unsecured creditors of A123 Systems will receive about 65% of what they are owed; the US-based bankrupt battery supplier said in a disclosure statement submitted in the court. The money will largely come from sale of the company’s assets to China-based Wanxiang Group. A123’s unsecured creditors include holders of its USD143.8m of outstanding convertible subordinated notes and suppliers. A123 had about USD17.5m in trade debt as per the company’s disclosure in October 2012 when the compa...
    News
    Wanxiang eyes Fisker Automotive
    China’s large automotive parts supplier company which has just won the bid to acquire A123 Systems is now eyeing the electric vehicle manufacturer Fisker Automotive. In a short news report in the state owned China Daily newspaper, Pin Ni, the president of Wanxiang is quoted stating that it is in its interests to help Fisker. Significance: Fisker has been seeking funds and on 14 January IHS Automotive reported media reports of Fisker seeking funds from China. Then as now, Wanxiang was quot...
    News
    Wanxiang gets CFIUS nod to buy A123 Systems’ assets
    Wanxiang Group states that the Committee on Foreign Investment in the United States (CIFUS) has approved its application to acquire A123 Systems. Wanxiang defeated Johnson Controls and NEC in the bankruptcy auction by bidding USD256.6m to take over all the assets under A123 Systems except for the company’s governmental and military business. Significance: Established in 2001 and listed on NASDAQ in 2009, A123 Systems was once the largest lithium-ion battery manufacturer in the United Stat...
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    Japan urges Nissan, NEC and Sony to merge lithium-ion battery business
    A Japanese state backed fund is urging Automotive Energy Supply Corporation (AESC) which is a Nissan and NEC Corp joint-venture to merge with Sony’s lithium-ion battery operations to control the rise of Chinese and Taiwanese companies from capturing key technologies in the sector, Reuters reports quoting The Yomiuri newspaper in Japan. The Japanese state backed fund wants AESC to buy a key stake in Sony’s battery unit. Sony makes lithium-ion power packs for personal computers and mobile phon...
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    China imports 60% of EV battery materials
    Chinese electric vehicle (EV) battery-makers are importing over 60% of the raw materials needed to make batteries, according to a report in the Chinese Nanfang Daily newspaper, which cites sources at local Chinese EV producers. Local Chinese power batteries are generally not chosen by automakers in China for their EVs as they do not meet the necessary requirements. Instead, the locally produced batteries are generally supplied to buses and low-speed EVs. The report states that SAIC Motor uses ba...
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    Wanxiang mulls forming independent trust to acquire A123—report
    Chinese auto parts manufacturing group Wanxiang has decided to set up an independent trust to purchase civilian assets of bankrupt US battery supplier A123 Systems. According to a Financial Times report, the decision to create a new trust could potentially help the company to complete the deal, which is currently jeopardized in view of pressure from US authorities. If the plan materializes, Wanxiang could purchase A123 assets from this new trust, after regulatory approvals from the Committee on ...
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    Fisker Karma production suspended for over six months.
    Fisker has stated that production of its Karma plug-in hybrid sedan has now been suspended for over six months, reports AutoBlogGreen. In a statement, spokesperson Roger Ormisher said that production of the vehicle at Finnish contract manufacturer Valmet was stopped temporarily in mid-July 2012 as part of a routine summer break but has not resumed. He added that the suspension is partly due to renegotiations with Valmet over the production contract, which was further stalled when battery supplie...
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    EDITORIAL - The fight for A123 Systems goes on even after the sale
    Though the sale of A123 Systems may have been rubber stamped, the fight for the assets of the bankrupt lithium-ion battery supplier may not be over yet. Last week saw Chinese conglomerate Wanxing Group win the auction for A123 systems with a bid of USD256.6 million. However, rival bidder Johnson Controls maintains its interest in A123's automotive assets — including plants in Livonia and Romulus, Michigan — as Wanxiang's bid could be nullified by the US government. "We're still inter...
    News
    China-based Wanxiang wins auction for A123 for USD260m
    The Wanxiang Group has won a bid to buy a large part of the struggling electric car battery maker A123 Systems for USD256.6m, according to the Detroit News. The largest component supplier in China outbid Johnson Control Inc. (JCI) in a US bankruptcy auction held on Sunday (9 December). The deal is subjected to review from the Committee on Foreign Investment in the US.     "I can tell you that we have won the bid, and the total value is about USD260m," said Mo Xiaoping, a spok...
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    Efficient Drivetrains develops electric powertrain system
    Efficient Drivetrains, Inc. (EDI) has developed an inline parallel-series-electric powertrain system. According to the company’s press release, the system is more efficient, less costly, less complex and lighter compared with competitors. The drivertrain, which incorporates components from GM, A123 Systems and UQM, is integrated into a GM light-duty pickup truck as a demonstrator vehicle. This drivetrain can be scaled up for light, medium and heavy-duty applications as it requires no power spl...
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    US to open three new battery research centres―report
    The US Department of Energy (DoE) will open three new advanced battery hubs including two in Michigan, reports The Detroit News. The third hub is expected to be at the Argonne National Laboratory's Joint Center for Energy Storage Research near Chicago which includes labs, universities and businesses across the US. DoE’s plan to open these hubs is aimed at bringing researchers together to develop new battery technologies for electric vehicles (EVs). The Michigan hubs will be located in Holl...
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    Fisker awaits A123’s Michigan plant sale to restart Karma production
    Fisker Automotive has temporarily shut down production of its plug-in hybrid electric vehicle (PHEV) Karma, following the bankruptcy of battery maker A123 Systems in October this year. The automaker is waiting for the sale of A123’s assets, which includes a battery plant in Michigan, before it can restart production of the Karma, according to Bloomberg. The report quotes Tony Posawatz CEO of Fisker as saying, “Because we have no batteries, there’s no production right now. Inventory is star...
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    US government says A123’s sale requires its approval
    The US government has said that the assets of bankrupt company A123 Systems cannot be sold without its approval. According to a Reuters report, the government’s consent is essential as the battery maker has got USD249m grant from the Department of Energy (DOE) and an approval is required before the grant can be passed on to the new buyer. A123 Systems can still avail USD120m in grants. The filing, by principal deputy assistant attorney general Stuart Delery, did not specify if the government f...
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    A123 Systems gets court’s final nod to access DIP financing
    A123 Systems has received final approval from the US bankruptcy court to use the USD50m debtor-in-possession (DIP) financing extended by China-based Wanxiang Group. Interim approval to access the DIP was granted by the court earlier this month (5th November). Significance: The DIP financing is in addition to the letter of credit support and the USD22.5m loan which Wanxiang provided to A123 Systems before the battery maker entered bankruptcy in October. The DIP financing is crucial for A123 ...
    News
    Johnson Controls, Wanxiang to bid at A123’s auction
    Johnson Controls (JCI) and China’s Wanxiang will bid in an auction on 6 December to buy battery-maker A123 Systems, reports Reuters. Wanxiang told US Bankruptcy Judge Kevin Carey yesterday (8 November) that it has sent A123 a confidential bid for the entire business on 7 November. Japan-based NEC and Germany-based Siemens are also interested in bidding; the former is interested in the non-automotive business of A123. Timothy Pohl of Lazard Freres & Co, A123's investment banker told the ban...
    News
    Wanxiang authorised to provide bankruptcy finance to A123 Systems
    Chinese automotive parts supplier Wanxiang Group has finally been authorised by a US judge to provide bankruptcy finance to A123 Systems. According to an Associated Press report, a Delaware judge authorised Wanxiang to provide USD50m in financing for A123 Systems. The battery manufacturer filed for bankruptcy in October, and had agreed then that Johnson Controls (JCI) would buy its automotive assets for USD125m. Significance: JCI has reportedly moved away from providing USD72.5m debtor-in-p...
    News
    Wanxiang looks for lead bidder role in A123’s assets auction
    Wanxiang America, the US division of the China-based Wanxiang Group, is looking for a lead bidder role for the assets of bankrupt battery maker A123 Systems. An attorney of Wanxiang said in a bankruptcy court filing, “Although the debtors have not yet engaged in negotiations with Wanxiang America over the details of that proposal, Wanxiang America is hopeful that such negotiations will commence as soon as possible”, as reported by Bloomberg. Wanxiang has filed an objection to the proposed ti...
    News
    A123 Systems pushes for approval of Wanxiang bankruptcy loan
    Bankrupt battery supplier A123 Systems has asked a judge to approve a USD50m-loan from Wanxiang America Corp., the US arm of a Chinese company that was originally interested in acquiring A123 before it declared bankruptcy on 16 October. The move would replace new suitor Johnson Controls Inc. as the lender for its Chapter 11 bankruptcy, after JCI backed away from loaning USD15.5m of a USD72.5m-loan earlier this week. JCI reportedly did so to avoid a fight over who is providing financing for the s...
    News
    EDITORIAL - A123 Systems declares bankruptcy; sells up to Johnson Controls
    U.S. Government-backed lithium-ion battery producer A123 Systems has filed for bankruptcy protection after failing to make interest payments on outstanding notes. The company had previously said it had run out of cash and was set to skip the scheduled payments. Separately, the company entered into an asset purchase agreement with Johnson Controls under which, the latter promised to buy A123's automotive business assets for a consideration of USD125 million. Johnson Controls will also acquire...
    News
    A123 gets court’s nod for USD15.5m interim loan from Johnson Controls
    Battery maker A123 Systems has got an approval from the Bankruptcy Court to secure an interim loan of USD15.5m from Johnson Controls. A Bloomberg report says that the financing received the court’s nod after Johnson Controls reduced the interest rate to 13.5% from the earlier pitch for 15%. A123 Systems will ask approval for the remaining portion of the USD72.5m loan in the court on 30 October 2012. Significance: The battery maker which went bankrupt earlier this week plans to sell its au...
    News
    Wanxiang reiterates interest in A123
    Chinese supplier group Wanxiang Corporation is still interested in acquiring bankrupt A123 Systems, a US-based lithium-ion battery-maker. Wanxiang bid USD465m for A123 Systems, but instead A123 Systems chose to file for bankruptcy. "Wanxiang's goal and interest remains the same," said Pin Ni, head of US operations for Wanxiang Group, referring to its objective of acquiring all of A123, reports Reuters. A123 Systems has agreed to sell its automotive operations to Johnson Controls for USD125m. ...
    News
    A123 Systems files for Chapter 11 protection, pledges to sell business to Johnson Controls
    Lithium-ion battery producer A123 Systems, a company spun-out of the Massachusetts Institute of Technology (MIT), filed for Chapter 11 bankruptcy protection yesterday, according to reports from Bloomberg. The company took the decision after failing to make interest payments on outstanding notes. "This action is expected to allow the company to provide for an orderly sale," A123 said in a press release. The company earlier said it had run out of cash and was set to skip the scheduled payments. ...
    News
    A123 Systems Nanophosphate EXT batteries’ tests show better results
      A123 Systems has shared results of further testing of its nanophosphate EXT batteries technology. The company's press release says that the lithium-ion battery technology that was designed to operate at extreme temperatures and almost eliminates the need for heating or cooling systems was further tested on higher and extreme low temperatures.   Previous test results shared by the company in June this year showed that the new technology is capable of retaining more than 90...
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    Fisker Automotive recalls 2,400 Karmas
    The California-based automaker, said the fire on August 10th had started in front of the left wheel, where the low temperature cooling fan is located. An “internal fault” caused the sealed unit to fail, starting a slow burning fire, according to a Fisker statement on Saturday. “The company is working with the responsible supplier and this recall campaign is not expected to have a material financial impact on Fisker,” the company said, adding that it has already contacted US safety regul...
    News
    A123 Systems signs definite deal to sell majority stake to China's Wanxiang Group
    Struggling battery supplier A123 Systems has formally inked a deal with China's Wanxiang Group that will see the Chinese company inject up to USD465m into A123, in exchange for up to an 80% stake, according to the company’s press release. The news finalises an announcement last week that the two parties had signed a memorandum of understanding for a funding arrangement in lieu of shareholding. The Massachusetts-based supplier said that it expects to receive the first instalment of USD25m in lo...
    News
    A123 Systems reports USD82.9m net loss in Q2 2012
    A123 Systems has recorded USD82.9m in net losses for the second quarter (Q2) of 2012, ended 30 June, compared with USD55.4m in loss, recorded in Q2 2011. Revenues toppled to USD17m, compared with USD36.4m in the same period a year ago. The company recorded USD66m in operating losses, worse than the USD52.9m in gross loss recorded in Q2 2011. The company’s revenues from Transportation segment declined considerably to USD17m, compared with USD24.4m generated in Q2 2011. Out of the total, prod...
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    A123 to supply lithium-ion battery packs to BAE Systems
    A123 Systems has signed a new agreement to supply prismatic cells-based lithium-ion battery packs to BAE Systems’ HybriDrive Series propulsion system, says a press release by A123. The new design is initially expected to be deployed on city transit buses. Under the new agreement, A123 will also supply lithium-ion battery packs for additional versions of BAE's HybriDrive system for other commercial applications. Signifcance: The agreement extends the existing relationship between A123 System...
    News
    A123 Systems warns investors, has five months of cash left
    Struggling battery-maker A123 Systems has warned its investors last week that at its current cash burn rate, it only has about five months left of cash to fund operations. Shares of A123 fell 11% after the announcement that it has filed documents stating its cash troubles with US government regulators. Even an announcement that it has made moves to raise USD39m could not stop the slide. The company is facing ongoing questions about its viability after a massive and costly recall campaign for its...
    News
    US Senators investigate US DoE loans to Fisker Automotive
    Two Republican Senators are repeating calls for an investigation and explanation of the US Deptartment of Energy's (DoE) granting of a USD529m loan to startup automaker Fisker Automotive, as well as a USD249m in grants to battery maker A123 Systems. Earlier this week, Senators Chuck Grassley of Iowa and John Thune of South Dakota sent a letter to Energy Secretary Steven Chu questioning why the DoE invested in Fisker when it is partially owned by the Qatar Investment Authority. "Why should the Am...
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    Latest investments
    Company Region Area of operation Comment Kirchhoff Automotive Romania Automotive 26 April 2012: Kirchhoff Automotive has opened its first plant in Craiova (Romania), which will supply components to minivan B-Max, says a press release. The report suggests that a total of about EUR12m (USD15.8m, 26 April 2012) has been invested to update the plant covering an area of 12,000m2. The Craiova plant is expected to begin production by mid-May this year. According to Arndt Kirchhoff, President, ...
    Insights
    A123 reports 'major breakthrough' in EV battery technology—report
    A123 Systems has said that a new technology could reduce the cost of electric vehicle (EV) batteries by USD600, reports Detroit Free Press. The new technology may be used in automobiles as a replacement for lead-acid batteries in start-stop micro-hybrids. A123 said that its new technology, nanophosphate EXT, relies on chemistry improvements to reduce the need for battery-cooling systems. Using the new technology, batteries would be able to maintain 90% of their initial power capacity after 2...
    News
    A123 Systems to go ahead with hiring despite financial concerns
    Struggling battery supplier A123 Systems has affirmed its plan to go ahead with hiring nearly 400 personnel for two plants in suburban Detroit, according to Crain's Detroit Business. The company plans to hire 100 employees every month for the next four months to fill positions at its Livonia and Romulus plants, due to increases in demand for its power grid and commercial transportation businesses. The company has seen its employment roster fall from 1,020 last year to just 781 this year as its a...
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    A123 Systems expects steep losses in the next few quarters; sees ‘substantial doubt’ about its viability
    A123 Systems in a filing with the US Securities and Exchange Commission (SEC) has said that there is “substantial doubt” about its viability and that it expects to report steep losses in the next several quarters. The company is planning to raise additional cash and is exploring other strategic alternatives. Besides actively engaging in discussions with strategic partners for substantial investments in the Company, A123 is also looking at the capital markets for funds. A123 said in the SEC f...
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    Battery supplier A123 systems announces USD125m loss in Q1 2012
    Massachusetts-based battery supplier A123 Systems has preliminarily announced an USD125m net loss on revenues of USD10.9m for the first quarter of 2012, according to a report by the Detroit News. The loss is significantly worse than the year-ago quarter, when A123 reported a loss of USD53.6m on USD18.1m in revenue. Full results are expected to be announced on 15 May 2012. A123 has also slashed its 2012 revenue forecast from USD230-300m to just USD145-175m. The company also said it anticipates sp...
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    Johnson Controls wins USD5.5m battery contract
    Battery supplier Johnson Controls, Inc. (JCI) has reportedly won a USD5.48-million contract to continue development of lithium-ion battery technology, with a specific focus on improving energy density while reducing cost, mass, and volume. The grant comes from the US Advanced Battery Consortium, is co-funded by the US Department of Energy and JCI itself, and is meant to finish work begun by previous contracts between JCI and the consortium. Work will be conducted at JCI’s Battery Technology Ce...
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    Latest Joint Ventures
    Supplier JV Partner Location Comment Hyundai Heavy Magna E-Car systems Europe/USA 3 April 2012: Hyundai Heavy Industries (HHI) and Magna E-Car Systems have joined hands to form a joint-venture (JV) for developing lithium-ion batteries targeting the automotive market. Magna E-Car and HHI will have 60:40 stakes in the new JV called MAHY E-CELL. Pierburg Mikuni China 3 April 2012: KSPG Group's subsidiary Pierburg Pump Technology GmbH, Neuss has setup a joint-venture (JV) with Japanes...
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    DoE extends term of UQM’s ARRA grant by two years
    The US Department of Energy (DoE) has extended the term of UQM Technologies’ American Recovery and Reinvestment Act (ARRA) grant for two more years, says a press release. The grant has been extended from three years to five years; the scheduled completion date now is 12 January 2015. The company had received an USD45.1m grant from the energy department, made under the ARRA, in January 2010 to accelerate the manufacturing of electric vehicles, batteries and components. Through 31 March 2012, th...
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    DoE extends A123’s federal grant by two years
    The US Department of Energy (DoE) has agreed to extend the term of the USD249.1m grant that it awarded A123 Systems in 2009. The battery supplier said this in a filing with the US Securities and Exchange Commission on Wednesday (11 April), reports Automotive News. With this extension, the battery supplier has now until 2 December 2014 to use the grant to fund the construction of new lithium-ion battery manufacturing facilities in Michigan (US). Earlier, A123 had until the 2 December 2012 to acce...
    News
    Johnson Controls wins USD5.5m battery contract
    Battery supplier Johnson Controls, Inc. (JCI) has reportedly won a USD5.48m contract to continue development of lithium ion battery technology, with a specific focus on improving energy density while reducing cost, mass and volume. The grant comes from the US Advanced Battery Consortium (USABC), which is co-funded by the US Department of Energy (DoE) and JCI itself, and is meant to finish work begun by previous contracts between JCI and the consortium. Work will be conducted at JCI's Battery Tec...
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    A123 launches USD55m program to replace battery packs containing defective cells
    A123 Systems has launched a campaign to replace battery cells made at its Livonia, Michigan, production centre, which could be potentially defective and affect the performance of the battery pack. The company reported that a miscalibration in one of four automated welding machines has misaligned a component in some of the cells, causing the defect. The faulty batteries have been provided to four customers including Fisker Automotive, according to A123. The company has started shipping the replac...
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