Ener1 (HEV) has applied for a $480 million low interest loan from the government as a part of a federal program called the Advanced Technology Vehicle Manufacturing Incentive Program to spur the development of the next generation of electric vehicles. The $25 billion program, administered by the Dept of Energy will be used to aid auto companies in the retooling of their manufacturing facilities to improve auto efficiencies.
If the funds are granted, it will … Read the rest
This is great news for the advancement of electric vehicles. Fourteen US companies have formed an alliance with a government laboratory called the National Alliance for Advanced Transportation Battery Cell Manufacture with the goal of the advancement of lithium batteries. The fragmented US battery industry has had a difficult time keeping up with their Asian counterparts. As battery consultant Ralph Brodd says, “(Other) countries understand that he who makes the batteries will one day make … Read the rest
AeroVironment (AVAV) is announcing today that Balqon Corp (OTC:BLQN) has purchased its PosiCharge fast charge system for its fleet of heavy duty electric trucks used at the Port of Los Angeles for moving ship containers. The PosiCharge fast charge system developed for heavy duty electric yard tractors can charge up to 4 heavy duty Balqon trucks at a time, which allows the port to increase the use of electric vehicles ultimately reducing emissions. The PosiCharge … Read the rest
With the Obama administration just weeks away from move in day, there are quite a few articles out there being written about ways to play the coming infrastructure and green energy boom. Much has been made of Obama’s plan to decrease our dependence on foreign oil and to a lesser degree, plans to spend big on infrastructure. Certainly infrastructure and green energy will be two big themes over the next 4 years and possibly beyond, … Read the rest
Ener1 (HEV), the lithium battery maker who is a supplier for Th!nk electric vehicles of Norway has indicated it’s secured a $30 million line of credit from its principal investor, Ener1 Group that will keep the company fully funded through 2009. Terms of the financing are still being finalized. The company has also confirmed that it remains on schedule to deliver its lithium ion batteries to Th!nk electric which will begin selling its vehicles commercially … Read the rest
Although Toyota’s Blue Springs, Mississippi plant is 90% done and the company has invested over $300 million into it, the company has decided to put the project on hold due to the economic collapse, which has caused the bottom to drop out of the US auto market. Since even hybrids aren’t selling well at the moment, Toyota has put the plant on hold "indefinitely."
CLSA’s Tokyo-based analyst, Christopher Richter, commented on the decision:
… Read the rest"With the
Last week, Advanced Battery Tech (ABAT) announced it has entered into a letter of intent to acquire 55% of Wuxi Angell, which it has been working closely with to develop and electric bike. ABAT will issue 2 million shares of common stock and pay out approximately 3.65 million in cash to acquire a majority portion of Wuxi Angell and the deal is expected to close in the first quarter of 2009.
Wuxi Angell makes … Read the rest
Borg Warner announced today that it is once again revising its 2008 earnings guidance downward. Previously, Borg Warner had expected non-GAAP earnings of $2.25 to $2.35 per share. However, due to current economic conditions, the company now expects non-GAAP earnings of $1.85 to $1.95 per share. The following special items will also impact the company’s balance sheets for 2008:
… Read the restPreviously announced nine-month year-to-date charges: goodwill adjustment of $(1.27) related to the BERU acquisition, BERU
Quantum Fuel Systems Technologies Worldwide Inc. announced today that it will provide its Q-Drive high-performance plug-in-hybrid electric vehicle architecture to its affiliate Fisker. Fisker will use the Q-Drive vehicle architecture to produce its sporty "KARMA" plug-in hybrid. The KARMA will be able to go for up to 50 miles on its electric battery alone, with a hybrid gasoline engine for longer trips.
The Karma can be charged using a normal 110-volt electric outlet, or … Read the rest
Advanced Battery Tech (ABAT) announced a few days ago that the deluxe model of its electric bike produced by Wuxi Angell Autocycle of China has passed performance tests conducted by the China North Vehicle Research Institute which is the most highly recognized electric vehicle testing center in China. ABAT is supplying the 48V, 15 amp lithium ion battery which improves the mileage per charge by 44% (69 km).
Mr. Zhiguo Fu, Chairman and CEO of … Read the rest