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A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

Green Car Congress

announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession (DIP) financing, which is being provided by Wanxiang Group Corporation (Wanxiang). Li-ion maker A123 Systems, Inc. Earlier post.). in a transaction valued at $125 million.

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Lithium-Ion Battery Maker Ener1 Receives $20M Strategic Equity Investment from ITOCHU

Green Car Congress

has received $20 million in fresh investment capital from ITOCHU Corporation, a long-term strategic partner of and current investor in Ener1. Separately, EnerDel has active relationships underway with automakers Think, Volvo, Mazda, Nissan ( earlier post ) and Fisker ( earlier post ). (At Earlier post.). Earlier post.). Earlier post.).

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A123 Systems to develop battery pack for new EV from SAIC

Green Car Congress

A123 Systems has been selected to develop Li-ion battery packs for a new, 2012 model year electric passenger car from Shanghai Automotive Industry Corporation (SAIC), the largest automaker in China.

Batteries 240
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A123 Systems Opens Li-ion Automotive Battery Manufacturing Plant in Michigan

Green Car Congress

A123’s customer list includes BAE, Eaton, Fisker, Navistar, Shanghai Automotive Industry Corporation (SAIC) and other global automakers and heavy-duty vehicle manufacturers.

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A123 Systems in non-binding MoU with Wanxiang for strategic investment of up to $450M; Wanxiang would own up to 80% of A123 common stock

Green Car Congress

A123 Systems, a developer and manufacturer of advanced lithium-iron phosphate batteries and systems, signed a non-binding memorandum of understanding (MOU) with Wanxiang Group Corporation establishing the framework for a strategic investment through which Wanxiang would invest up to $450 million in A123. million (a decrease of 53% from $36.4

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How Carmakers Are Responding to the Plug-In Hybrid Opportunity

Tony Karrer Delicious EVdriven

Fisker $80,000 Karma series luxury 50-mile range series PHEV, S Sunset convertible version.Partnering with Quantum Technologies. Fisker $80,000 Karma series luxury 50-mile range series PHEV, S Sunset convertible version.Partnering with Quantum Technologies. Showed BlueZERO E-CELL PLUS series PHEV concept in December 08.

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