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Saft to Raise Approximately 120M to Fund Li-ion Plants in US

Green Car Congress

Saft remains very focussed on its exciting medium term growth prospects, with high performance Li-ion batteries and is delighted that its projects have been chosen by the US Government to receive grants to build new factories in North America. Jacksonville. reduction in Q3 sales year-on-year to €123.2 Johnson Controls-Saft.

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Saft aiming for lithium-ion plant funding

Green Cars News

Depending on market conditions, Saft hopes to raise approximately €120million by way of preferential subscription rights to fund a lithium-ion battery plant in Jacksonville, Florida, a lithium-ion hybrid and electric battery plant in Holland, Michigan, and to reinforce its financial flexibility.

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President Obama Announces 48 Projects to Receive $2.4B in Grants for Next-Generation of Batteries and Electric Vehicles; To be Combined with $2.4B in Industry Cost-Share

Green Car Congress

The announcement marks the single largest investment in advanced battery technology for hybrid and electric-drive vehicles ever made. Industry officials expect that this $2.4 billion in cost-share from the award winners, will result directly in the creation tens of thousands of manufacturing jobs in the US battery and auto industries.

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GM Files Voluntary Chapter 11; Agreements with US Treasury and Canada; New GM Expected in 60-90 Days

Green Car Congress

Jacksonville, Fla. Feature lower structural costs enabling its North American region to break even (on an adjusted EBIT basis) at a US total industry volume of approximately 10 million vehicles. Warrants granted to the New VEBA to acquire newly issued shares in the New GM equal to 2.5% Close: Dec 2010. Massena Castings, N.Y.

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