The government has dished out the funds for advanced battery research and development and the winners are….
Johnson Controls (JCI) – $300 million
A123 Systems – $249 million
General Motors (GM) – $240 million
EnerDel (HEV) – $118.5 million
Ford (F) – 92.7 million
Chrysler – $70 million
UQM Technologies (UQM) – $45 million
Exide (XIDE) – $34 million
Tomorrow morning the government will announce the recipients of $2 billion in stimulus funds for advanced battery research and development. Privately held A123 Systems is expected to receive a portion of the funds and publicly traded Ener1 (HEV) may receive funds as well which could give a boost to the stock tomorrow. VP Joe Biden is expected to announce the winners in an event in Detroit while Energy Secretary Steven Chu is expected to … Read the rest
There’s a good article over at Gas 2.0 today, taking a look at Aerovironment’s (AVAV) new 800kW EV charger being tested by the US Army. This whopper of a charger has the potential to deliver the same amount of power as 570 household sockets.. about 50x more powerful than the new US EV charging standard SAE J1772. According to the article, this kind of charger could add a 1000 miles of range in 15 – … Read the rest
Yesterday in the Washington Post, General Electric (GE) CEO Jeff Immelt and famed venture capitalist John Doerr wrote an op ed piece highlighting the failure of the US to take the lead in green energy and the emergence of China as the leader.
Some interesting facts:
– China cars are 35% more fuel efficient
– they spend 10x what the US does as a % of GDP on green energy
– China on track to … Read the rest
Nissan (NSANY) is making headlines this weekend with the unveiling of its version of the electric car, the LEAF. They probably won’t win any awards for the name of the car which according the press release embodies the air cleaning, purity qualities of a leaf by removing the emissions portion of the driving experience. Not the prettiest thing either.
Name and looks aside, the vehicle sounds impressive. The zero emission vehicle (well.. not exactly … Read the rest
With a development stage company like UQM Technologies (UQM), it’s never about quarterly earnings, it’s ALWAYS about the news. We certainly saw that a couple days ago as the stock rocketed higher on the Coda Motors news. Earnings aren’t all that important at this stage, but I’ll report them anyway. The company posted a narrower loss this quarter of .02/share vs the .04/loss posted a year ago.
“During the first quarter we continued to experience … Read the rest
UQM Technologies (UQM) has surged more than 50% in a couple days on the Coda Motors/UQM news which Alison did a great job of covering. Who says you can’t profit by reading the breaking news here! 🙂 The stock surged again late in the day today most likely on the news that Coda Motors received another round of cash and Hank Paulson as an advisor. Yeah, that Hank Paulson (former Treasury Secretary). The company … Read the rest
Borg Warner (BWA) is selling off with heavy volume after the company reported earnings that missed analyst estimates by a wide margin. The company reported a non GAAP loss of .05/share vs the expectations for a .07/share profit. Sales also came in much lighter than expected at $916 million vs expectations of $970 million.
The CEO commented that restructuring initiatives from last year are helping the company and that the company generated positive cash flow … Read the rest
Well, here’s some good news for Ener1 and Think: Think’s electric drivetrain, which is powered by Ener1’s lithium-ion batteries, has been selected by Zero Sports of Japan to help them convert Japan Post’s fleet to electric vehicles. Think’s drivetrain is being used to turn existing gasoline trucks into electric vehicles. Japan Post plans to convert 25% of its fleet to run entirely on electricity.
In a company press release, Ener1 CEO and Chairman Charles … Read the rest
UQM Technologies just announced that they have signed a 10-year agreement to provide UQM® PowerPhase®100 electric propulsion systems to Coda Automotive. Under the agreement, Coda will purchase 20,000 propulsion systems in the first two years, to be used in the company’s upcoming 4-door, 5-passenger, all-electric sedan. The sedan will be released in California in the middle of next year. It has a 5 star crash rating and can travel 90 to 120 miles on a … Read the rest