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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). The financing supplements the pre-petition $22.5 Li-ion maker A123 Systems, Inc.

Financing 225
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Daimler takes minority stake in Sila Nanotechnologies; next-generation lithium-ion battery materials

Green Car Congress

The investment forms part of Sila Nano’s $170-million Series E financing, which was led by Daimler. With the latest round of financing secured, Sila Nano has begun ramping up production volume and plans to supply its first commercial customers in consumer electronics within the next year.

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Elon Musk, Twitter reach agreement for sale of social media platform

Teslarati

The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022 , which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.” There are no financing conditions to the closing of the transaction. Musk has secured $25.5 Morgan, and Allen & Co.,

For Sale 145
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UC Davis ITS study suggests hastening consumer adoption of plug-ins will require innovation on the sales side

Green Car Congress

A study by researchers at the Institute of Transportation Studies, UC Davis finds that buyers of plug-in vehicles (PEVs) are substantially less satisfied with the dealer purchase experience than buyers of conventional vehicles—with the notable exception of Tesla buyers. In some cases, dealers outright discouraged PEV purchases.

Davis 290
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Avis Budget group to acquire car-sharing company Zipcar in cash deal for approximately $500 million

Green Car Congress

In particular, Avis Budget expects significant cost reductions across the fleet life cycle (from procurement to operations and maintenance to disposition, as well as financing), in addition to savings from eliminating Zipcar’s public-company costs. The companies expect substantial synergies in fleet utilization. Source: Avis Budget.

Companies 218
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Electric Car Buyer’s Guide: 7 Steps to Find The Best EV for Your Life

EV Life

Most Americans also qualify for EV incentives from $7,500 to $15,000, but there’s a lot of fine print to read across different government websites, and incentives can take up to 12 months to recoup post-purchase. You may be surprised by the number of sedans, SUV/crossovers, and hatchbacks available. Consider leasing vs. financing.

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Navigant Research forecasts new EV global sales of > 346,000 units in 2014; 10 predictions for the year

Green Car Congress

North America, Europe, and Asia Pacific will continue to drive PEV sales, as the technology will have only limited availability in the emerging markets of Latin America and Africa. First, there are more products available for purchase with new entrants ready to boost the market profile.

2014 346