A123 Systems, LLC announced that its businesses focused on advanced batteries for electric grid, backup power and lead-acid replacements for commercial applications will be branded A123 Energy Solutions. This will allow the company to combine the activities of several previous groups of A123 Systems under one division. This new division, headquartered in Westborough Massachusetts, will
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Some people watching Fisker Automotive have predicted the company will not survive, especially since it was revealed it has stopped Karma production and its battery supplier filed for bankruptcy in October, but assembly is reportedly due to resume. Last week, company co-founder Henrik Fisker told reporters production will begin again “fairly soon.” He gave no
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In light of several setbacks, Fisker Automotive is weighing options of seeking funding from Chinese auto interests, and reportedly hasn’t assembled any of its extended-range electric Karma sedans in the past six months. According to Reuters, one of the Chinese firms is Wanxiang Group, the company that in December won an auction for bankrupt U.S.
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The saga of A123 Systems’ sale to Chinese Wanxiang is still making waves. The Strategic Materials Advisory Council (SMAC) unveiled on Jan. 3 a myths/facts paper on the issue. The SMAC as well as dozen of Republican and Democratic members of Congress say they are “deeply concerned by the economic and national security implications of
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The A123 Systems saga is far from over as Johnson Controls objects to delay in payment of break-up fee and expense reimbursement. On Dec. 17, Johnson Controls filed an appeal in bankruptcy court of the Dec. 11, 2012 sale order approving Wanxiang’s purchase of A123 Systems. As part of the sale order, the court ordered
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A123 Systems, Inc. announced Tuesday, Dec. 11 at 5:55 pm that it has received approval from United States Bankruptcy Court for the District of Delaware to sell substantially all of A123’s assets to Wanxiang America Corporation. The Court also granted approval for A123 to sell its government business to Navitas Systems. As previously announced, following Johnson Control’s withdrawal
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