Posts Tagged: Wanxiang Group

Under new Chinese owners, A123 finds promising niche in micro-hybrid market

Most Charged readers will certainly remember A123, the company that was founded in 2001 on the basis of promising battery technology developed at MIT; received a $249-million grant from the DOE and $100 million in tax breaks from the state of Michigan; raised $380 million in a 2009 IPO; made a bad bet on Fisker… Read more »

A123 to double global production capacity with $200 million investment over three years

Since battery-maker A123 was acquired by China’s Wanxiang Group, it has shifted its focus to concentrate on starter batteries, and has big plans to produce batteries for microhybrids, aka start-stop systems. The company recently announced a plan to double global manufacturing capacity to 1.5 GWh within the next three years. A123 operates manufacturing hubs in… Read more »

The new Fisker shows signs of life, launches Customer Support Program

Fisker’s new owner, Chinese parts giant Wanxiang, hopes to bring the American automaker back from the dead. It made a promising start on its resurrection plan this week as it launched a Customer Support Program for existing Karma owners. A letter to current owners reiterated that the company plans to “re-launch the Karma and introduce future… Read more »

A123 shifts focus to starter batteries

Since battery-maker A123 was acquired by China’s Wanxiang Group, it has shifted its focus to concentrate on starter batteries, and has big plans to produce batteries for microhybrids, aka start-stop systems. A quarter of the company’s revenue still comes from EV battery packs – its factory in Hangzhou is running at full capacity to supply… Read more »

Fisker to be renamed Elux, relaunch the Karma by mid-2016

Fisker Automotive will be renamed Elux, unnamed sources have told Reuters. The company, now owned by the Wanxiang Group, plans to relaunch the Karma PHEV sports car in mid-2016. The Elux Karma is expected to be strongly based on Henrik Fisker’s original Karma design. It will not be assembled in Finland, the sources said, but… Read more »

Fisker is hiring, rebuilding its supply chain

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 »

Could Wanxiang relaunch the Fisker as early as next year?

An unnamed source has told Reuters that the company is rushing to finish a new version of the Fisker Karma, and hopes to reintroduce it “by next year.” “It will have to be nearly identical to the 2012 model, or it would need to go through [safety] testing and certification again,” a supplier source said…. Read more »

Fisker needs to fix 250 “bugs” before production resumes

The Chinese auto parts giant Wanxiang Group, Fisker’s new owner, is working to restart production of the Karma at a plant in Finland, and hopes to eventually assemble the luxury PHEV in the US. Two of the company’s top execs have been on a US tour, meeting with officials and politicians in Delaware, where Fisker… Read more »

Wanxiang bids for Fisker again in last-minute offer

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 »

Bob Lutz and Wanxiang team up to make an offer for Fisker

If anybody can save Fisker, it might just be automotive superstar Bob Lutz – with help from a deep-pocketed Chinese firm. Reuters has reported that VL Automotive, a boutique automaker led by the plain-speaking former GM executive, together with the Wanxiang Group, China’s largest auto parts supplier, submitted an offer to buy the troubled automaker… Read more »