Ener1 (HEV) is announcing an important relationship with a heavy duty OEM manufacturer and the Department of Energy to develop lithium ion batteries for hybrid buses and other heavy duty vehicles. It’s not a big deal in terms of monetary compensation at just 1.25 million, but it’s a clear vote of confidence in Ener1 (HEV) which will test their battery technologies under a variety of real world conditions.
“Ener1 has some of the world’s leading … Read the rest
Floyd Associates, a privately held consulting firm is out with a research report on the future of electric cars (disclaimer: FA is involved with business development of Phoenix Motorcars) which isn’t all that detailed but provides a good primer on the technologies involved and some of the smaller players hoping to emerge as future leaders of the electric car industry (or sell their technologies to existing major auto companies). Below is an outline of the … Read the rest
Borg Warner (BWA) is a key auto parts supplier for hybrid and electric cars and its technologies power all five vehicles in the Green Car Journals top 5 finalists for 2009 Green Car of the Year. Its regulated 2 stage and variable turbine geometry turochargers, pressure sensor glow plugs, Instant Start Systems, DualTronic clutch and control modules and traditional transmission components are a few of the technologies featured in the BMW 335d, Ford Fusion Hybrid, … Read the rest
Ener1 announced yesterday that it has signed a memorandum of understanding with Japanese power and utility giant Kyushu Electric Power (KEPCO). Per the memorandum of understanding, the two companies will work together to develop and produce rapid charging stands for electric vehicles. They will use KEPCO’s existing rapid charging station, already in use in Japan, as a base, and customize it with the EnerDel High Energy Pack System from Ener1. The new systems, expected to … Read the rest
According to StreetInsider.com, MDB Capital is upgrading Ener1 (HEV) this morning from Hold to Buy and increased the price target from $7.50 to $10. The analyst believes that HEV will meet or exceed its 09 volume commitment for the Think vehicle and is positioned for significant growth based on..
– the recent purchase of Enertech
– the beginning of shipments of its battery pack to Think Global as part of a $70 million contract… Read the rest
Toyota released its 2nd quarter financial results today. Net revenues for the first two quarters decreased 6.3% compared to last year, to 12.19 trillion yen. Operating income decreased sharply, falling 54.2% to 582 billion yen. Net income also dropped, falling 47.6% to 493.4 billion yen. Vehicle sales also decreased by 51,000 vehicles compared to last year, with reported sales for the second quarter of 2008 coming in at 4.25 million.
With everything that’s going … Read the rest
UQM Technologies (UQM), the developer of parts for electric cars announced results after the bell today posting a loss of .06/share, widening the loss from the year ago quarter by .02. Revenues increased to 2.78 million in the quarter from revenue of 2 million in the year ago quarter, but the company was hurt this quarter on rising expenses.
Said the CFO, “Production engineering expense for the quarter rose 20 percent to $485,369, reflecting a … Read the rest
Borg Warner released its 3rd quarter results today, and the earnings report shows that the economic downturn has affected the company’s business. Compared to a year ago, third quarter sales stayed the same at $1,316.9 million. US GAAP earnings were a loss of $1.12 per diluted share, but this is largely because of one-time items. Excluding those one time charges, earnings would have been 44 cents per share. The company has also revised its … Read the rest
Borg Warner (BWA) is announcing this morning that they expect $2.1 billion in new business (80% coming from Asia and Europe) over the next 3 years despite a horrendous global auto industry. The company is a key player in the auto fuel efficiency revolution with its gas/diesel turbochargers and dual transmission technology driving the company’s growth.
“While the current economic crisis is expected to slow near-term, global auto sales, climate change and fuel economy remain … Read the rest
Late last week, Ener1 (HEV) announced it has acquired an 83% interest in Enertech International, one of South Korea’s leading lithium ion battery cell producer. It’s intended to broaden Ener1’s production capabilities to take advantage of the global shift to more fuel efficient automobiles.
“Enertech is one of the largest lithium-ion battery producers in Korea, behind only LG Chemical and Samsung,” said Ener1 CEO Charles Gassenheimer. “This acquisition gives us immediate scale and volume … Read the rest