Valmet Automotive has started producing batteries at its plant in Salo, Finland, which the company converted from a cell phone manufacturing plant. Construction on the new battery plant began in May 2019. Valmet added new logistics facilities logistics and production lines. Full-scale production is scheduled for early next year. By that time, the company estimates… Read more »
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Chinese battery builder Contemporary Amperex Technology Limited (CATL) and Finnish contract manufacturer Valmet Automotive have formed a strategic partnership to develop electric automotive solutions. As part of the deal, CATL has taken a 22% ownership position in Valmet. CATL currently offers NCM and LFP Li-ion chemistries in cells, modules and packs. The companies’ strategy is… Read more »
A Finnish-American start-up with ambitious goals wants to change how we think about batteries. The concept of an EV that supports the quick removal and replacement of a discharged battery pack was all the rage about 5 years ago. Since then, however, various systems have been attempted and subsequently abandoned by companies like BetterPlace, Renault,… Read more »
Things are stirring at Fisker Automotive. New owner Wanxiang plans to relaunch the Karma plug-in luxury sedan next year, and the company is hiring – its online job board lists some 45 open positions, including engineers, managers and interns. Fisker is renewing its relationship with Quantum Fuel Systems Technologies, the supplier of the Karma’s powertrain… Read more »
Some 618 parties have filed claims against Fisker Automotive, which declared bankruptcy in November. The outstanding claims total $985.4 million, including about $594 million in unsecured claims, and $383 million in secured claims, according to the bankruptcy court. Wanxiang America has been approved by the court to purchase Fisker’s assets, including a former GM plant… Read more »
Fisker CEO Tony Posawatz told the press this week that the company has been forced to shut down production of the Karma until it figures out where its next batteries are coming from.
For years, automakers have been steadily outsourcing more and more of their manufacturing. Modern vehicles are assembled from parts made by suppliers all over the world, and in some cases, even the final assembly is done under contract by companies such as Magna and Valmet. Tesla has reversed this trend to a certain extent –… Read more »
The assets of bankrupt automaker Fisker Automotive are scheduled to be transferred to Hybrid Technology LLC, which bought the automaker’s outstanding $168 million DOE loan for $25 million in October. However, just days before a hearing in which a judge will decide whether to give final approval to the deal, Chinese auto parts giant Wanxiang… Read more »
Fisker Automotive finally filed for Chapter 11 bankruptcy protection this week, some 18 months after building its last car. Hybrid Technology LLC, which bought the automaker’s outstanding $168 million DOE loan for $25 million in October, said that the purchase of the government loan was a first step toward restarting production of the Karma. “As… Read more »
A pair of German investors has submitted a formal offer for Fisker Automotive, according to Green Car Reports. Last month, the German magazine AutoBild reported that Fritz Nol and Ingo Voigt group were interested in acquiring what remains of Fisker for $25 million. “I am proud to tell you that we just sent our detailed… Read more »