The Delaware Bankruptcy Court approved the sale of A123 to China’s Wanxiang Group on Tuesday, but the deal must be approved by the US Committee on Foreign Investment.
Posts Tagged: Fisker Karma
Chinese auto parts firm Wanxiang is the proud owner of battery maker A123 Systems, having won this week’s bankruptcy auction with a bid of between $250 million and $260 million, according to the Wall Street Journal. Other bidders included Johnson Controls, NEC and Siemens. Wanxiang will not be buying the segment of A123 that provides… Read more »
A former GM exec who’s now filling a very different role as the CEO of a California startup, Mr P has learned that fund-raising is a never-ending process.
Fisker was forced to temporarily shut down production of its Karma luxury sedan due to A123’s troubles, and is hoping for a quick resolution.
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.
The new technical center will spearhead final product development, component readiness and production launch.
300 brand-new Karmas were destroyed in the storm, as were a total of around 16,000 vehicles from various makers, including a couple of Prii.
With a presidential election and a deadly hurricane hogging the headlines, it’s perhaps understandable that the major national news media have ignored the most important story: all three of the mass-market plug-in vehicles broke sales records in October, while also topping the Consumer Reports customer reliability survey. Once again the Chevrolet Volt leads the plug-in pack. The… Read more »
Hurricane Sandy’s devastating damage seems to include 16 Fisker Karmas that were parked in Port Newark, New Jersey.
It’s that time again – September sales figures are in. Overall EV sales are up, and the standings remain the same.The Chevy Volt sold 2,851 units, a slight improvement over August’s all time record of 2,831, for a year-to-date total of 16,348. The Volt’s Hamtramck assembly line will remain idle until October 15th. Toyota’s Prius… Read more »