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20.03.2016
Fisker has paused production of their Karma, which is currently being made at the Valmet factory, in Finland, due to the fact that they are close to running out of the huge lithium-ion battery packs needed to power the plug-in hybrid luxury sedan, as the battery manufacturer A123 Systems Inc. One of the two companies who have confirmed their interest in the ailing US battery maker is a Chinese company, Wanxiang Group Corp. Also, in order for the bid to go through, the blessing of the US government is also required, since A123 has already received a $249-million grant. However, they will have to wait until December 6, when the auction for A123 is set to officially take place. The decision on whether or not the Chinese firm would secure the deal was under scrutiny by the U.S. Automotive battery maker Johnson Controls was among the list of bidders trying to purchase A123 Systems. A123 filed for bankruptcy protection in October, in part due to weak demand for plug-in vehicles. It's believed that the deal with Wanxiang was approved due to the firms long history of investing in U.S.


As a result of the Wanxiang-A123 deal, a new wholly owned subsidiary of Wanxiang America Corporation, to be named A123 Systems LLC, has been formed. If you plan to charge in public, you'll want to sign up for charging network membership (or two). How do you ensure that electric car owners will be happy with every visit to your charging spot? News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. PHOTO CAPTION: Chevrolet Spark EV on display at 2013 NAIAS is equipped with A123 System lithium batteries.
The Committee on Foreign Investment in the United States approves auction of A123 to Chinese parts supplier, which generates $1 billion in U.S.
Some members of Congress and retired military leaders said the sale to Wanxiang would transfer sensitive technology to China and they asked the U.S. A123 Technologies CEO Defends Chinese Financial RescueDavid Vieau sees 80% stake in A123 by Wanxiang as saving American jobs.


Will A123 Bankruptcy Cripple Electric Cars?Drayson Racing designed its Le Mans-style electric racer around A123 System's nano-structured lithium ion chemistry. Despite Bankruptcy, A123 Story Lives OnWhile the electric car battery side of the business proved to slow developing to save A123, the grid storage business appears to be where the most immediate opportunity lies. Aside from the Chinese company, Johnson Controls have also announced their interest in buying out the battery maker, and have reportedly offered $125-million to close the deal.
After being burned by a series of high-profile failures, Chinese companies are learning to navigate the delicate political and regulatory landscape for takeovers in the U.S.
A123 Systems makes batteries for Fisker Automotive, BMW hybrid 3- and 5-Series cars, and the Chevrolet Spark EV. A123 Systems was awarded a US government grant of $249 million to help with construction of lithium ion battery manufacturing facilities in the United States.



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