October 16, 2012
After stating in a regulatory filing today it could not meet debt obligations, and was headed toward bankruptcy, ailing battery maker A123 Systems, Inc. has announced it has agreed to be sold to Johnson Controls, Inc. (JCI).
The $125 million purchase agreement will prevent the assets and intellectual property of the government subsidized company from going to China’s largest auto parts maker, which intended to invest as much as $465 million which would have entitled it to an 80-percent share of A123.
"We believe the asset purchase agreement with Johnson Controls, coupled with a Chapter 11 filing, is in the best interests of A123 and its stakeholders at this time," said David Vieau, Chief Executive Officer of A123. "We determined not to move forward with the previously announced Wanxiang agreement as a result of unanticipated and significant challenges to its completion.
October 16, 2012
How would you like it if the next new car you got came with enough free fuel to let you travel your first 10,000 miles without your having to reach into your wallet?
Essentially, this is what CODA Automotive announced today it is offering California consumers by way of a $552 rebate with the purchase of a 2012 CODA in October. That amount, says the company, should pay your electricity bill for the energy used to travel this distance in its all-electric car.
October 16, 2012
2012_Toyota_Prius_Going_Up
Prii prices are going slightly up for 2013.
Toyota Motor Sales, U.S.A., Inc. (TMS) announced yesterday a $200 price increase for the 2013 Prius and between $100 and $155 for the Prius v depending on trim model.
These new prices become effective as of this month, October 2012.
October 16, 2012
A new charging standard will allow EVs to be charged in as little as 20 minutes.
SAE International's much-anticipated technical standard for plug-in hybrid electric vehicle (PHEV) and electric vehicles (EV) has been approved and published.
October 16, 2012
The New York State Energy Research and Development Authority (NYSERDA) has awarded $250,000 to each of eight companies and research centers to develop working prototypes for a wide range of energy-storage technologies.
The recipients are all members of the NY Battery and Energy Storage Technology (NY-BEST) Consortium.
The companies and research centers - located in Albany, Ithaca, New York City, Oneonta, Schenectady, Troy and Williamsville - will each receive $250,000 provided by NYSERDA, to turn energy storage technologies with proven technical feasibility into working prototypes.
