Azure Dynamics Corporation announced this week that it has entered into an agreement to sell its portfolio of patents and related rights and assets to a third party, which would seem to end speculation that the company might emerge from bankruptcy. Canada-based Azure, in partnership with Ford, developed an electric version of the popular… Read more »
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A123 Systems saved by the Chinese
Wanxiang Group will provide a bridge loan of $75 million or so, and eventually invest up to $450 million in A123, which would give it an ownership stake of about 80% in the company.
July US plug-in sales: Chevy Volt handily in the lead
GM sold 1,849 Volts in July, bringing the year-to-date total to 10,666, and total US sales since launch to 18,663.
Despite record sales, the Volt still makes the right wing see red
A GM exec famously noted that the Volt had become a political football. However, the endless back-and-forth in the media about Chevy’s plug-in seems more like a long and drawn-out tennis match. In 2011, a volley of anti-Volt columns and cartoons came from the right side of the court, as the fact that some Volt… Read more »
VIDEO: Via Motors VTRUX roll into Jay Leno’s Garage
Bob Lutz, “one of the great car guys of all time,” showed up at Jay Leno’s Garage this week, and he brought some cool toys to play with (they’d have to be pretty darn cool to impress Leno) – VIA Motors’ electrified full-size van, SUV and crew cab pickup truck. Ex-Marine Bob Lutz… Read more »
Indian government plans large investments to promote EVs and hybrids
Zee News reported that the Indian government plans to invest 13,000 crore rupees (about $2.4 billion) over a period of eight years to promote electric and hybrid vehicles in the country. The Ministry of Heavy Industries and Public Enterprises is drafting a National Mission for Hybrid and Electric Vehicles (NMHEV) in consultation with various automakers,… Read more »
Auto sales soaring, Volt remains by far the best-selling plug-in
Cars are cool again – last month’s US auto sales were up 22% compared to June 2011. Inexplicably, the majority of sales are still old-fashioned gas burners, but plug-in vehicles are coming on strong. It’s becoming clear that buyers are favoring PHEVs over pure EVs. June’s big winner is the Chevrolet Volt – it was… Read more »
Asian group plans to relaunch Saab as an EV-only brand
Fans of Swedish engineering were “sobbing” last December when the country’s #2 automaker filed for bankruptcy. Since then, administrators have negotiated with a number of potential buyers. Now they appear to have struck a deal that will not only preserve the iconic Saab brand, but position it on the electrified cutting edge. A consortium called… Read more »
Remy International signs supply agreement with VIA Motors
Remy International (OTC-PINK: RMYI) and VIA Motors have announced a joint agreement to supply Remy’s HVH electric motors for VIA’s plug-in hybrid commercial trucks. Privately-held VIA offers a lineup of powerful PHEVs that it calls VTRUX, including full-size pickups, vans and SUVs. The company’s eREV powertrain includes a 4.3-liter gas V6, a 300-kW electric motor,… Read more »
A123 Systems returns from death’s door with breakthrough new battery technology
A123 Systems (Nasdaq:AONE) showed once again why, in a business dominated by much larger firms, it’s a contender that can’t be counted out. Just days after the company conceded that its ability to continue operations was in doubt, it announced a new lithium ion battery technology called Nanophosphate EXT, and its stock price instantly accelerated… Read more »
