Panasonic Corp just announced that it will pay $4.6 billion to take the reins at Sanyo Electric Company. With the two companies’ powers combined, the result will be one of the largest electronics makers in the world.
Panasonic will pay 403.78 billion yen ($4.6 billion) for 50.2 percent of Sanyo, paying 131 yen per share. The move will enable Panasonic to tap the Sanyo team’s expertise in terms of green technologies like solar panels and … Read the rest
It’s being announced this morning that EnerDel (HEV) has participated in a Tokyo smart grid project scheduled to come online in a few months. The project involves several companies from around the world including EnerDel, Mazda and Itochu Corp (EnerDel’s sales/marketing partner in Japan and long time investor) and aims to construct a complete smart grid marrying the components of electric vehicles and solar power.
EnerDel has outfitted Mazda vehicles with its lithium batteries along … Read the rest
A123 Systems (AONE) has been surging off the bottom over the past 30 minutes on news it will use $5 million from the US Dept of Energy to collaborate with Detroit Edison on a study to find out if electric car batteries can be bundled together to store emergency supplies of power for the electric grid. Detroit Edison, owned by DTE Energy, will bundle the battery packs containing 25 lithium batteries in 20 groups and … Read the rest
A123 Systems (AONE) beat estimates after the bell yesterday, but the company remains a long ways off from being profitable and results were basically flat over the year ago quarter. The company posted an EPS loss of .22/share, which is a bit worse than the .19/share loss reported last year, but better than the .33/loss analyst expected. Revenues came in at $23.6 million which is better than the $19 million analyst estimate and a slight … Read the rest
Ener1 (HEV) is a late next year story, so earnings don’t mean too much right now, but the company did miss on both EPS and revenues after the bell today. The company reported a loss of .14/share (vs analyst estimates of a .10/share loss) on revenues of $8.1 million (vs analyst estimates of $9 million).
CEO Charles Gassenheimer focused on the future..
“Ener1 has seen a substantial uptick in customer inquiries over the past three … Read the rest
Valence Technology, Inc just announced that it has signed a supply agreement to provide EVI with batteries for their electric trucks. The companies announced the deal at the Grand Opening Ceremony for EVI’s new Stockton, California plant.
In a press release, Robert L. Kanode, President and CEO of Valence Technology, commented on the deal:
“The Valence U-Charge energy storage systems offers EVI the flexibility to offer three distinctive electric trucks from class 4 (15,000 … Read the rest
The coverage is beginning to come out on A123 Systems (AONE) and the first round is generally positive with some bullish comments coming out of Deutsche Bank.
Bank of America initiates with a Hold rating and $17 price target.
Morgan Stanley has initiated coverage an Equalweight which I assume is similar to a Hold rating.
Deutsche Bank initiates coverage with a Hold rating and price target of $17.
Hat tip to StreetInsider.com for the following … Read the rest
The Obama administration is announcing this morning that it’s providing billions to Ford, Nissan and Tesla Motors for the development of hybrid and electric vehicles. Ford will receive the bulk of the $8 billion allotted, which is the first chunk of loan commitments provided as part of the DOE’s Advanced Technology Vehicles Manufacturing program to further the advancement of fuel efficient vehicles in the US. Ford will use the cash to transform factories in Illinois, … Read the rest
EnerDel (HEV) has been awarded a $3.3 million contract by the Dept of Energy research for better safety and performance of lithium batteries. The research, to be conducted jointly with Argonne National Laboratories, will be funded under the DOE’s Vehicle Technologies Program and aim to eliminate the overcharging of batteries at the chemical level. EnerDel and Argonne have worked together in the past, receiving the Excellence in Technology Transfer award for their lithium-titanate chemistry. … Read the rest
Valence Technology (VLNC) is still a develop stage company so its earnings reports aren’t too critical at this point. More important are the pieces being put in place now for revenues down the road and it appears the company is on that track. We’ve been covering those announcements here in the past few weeks. However, this is still a company probably a few years away from being profitable.
Last quarter the company lost .04/share which … Read the rest