Automotive IT News and Facts
A123 Systems said it has filed for bankruptcy protection and will sell most of its operations to automotive supplier Johnson Controls. The US battery systems maker said it had filed for Chapter 11 bankruptcy protection, which it said will allow “an orderly sale” of its automotive business assets to JCI. Those assets include all automotive technology, [...]
China’s Wanxiang plans to invest up to 450 million dlrs in A123, providing a financial lifeline to the embattled US battery maker. Under the terms of a non-binding memorandum of understanding between the two companies, Wanxiang, a large Chinese automotive components manufacturer, would provide a capital injection that would let A123 continue to grow its [...]
General Motors will build an all-electric version of the Chevrolet Spark minicar for launch in 2013. The US carmaker confirmed earlier news reports that it would be building a full electric model in addition to the Chevrolet Volt, which has an electric motor coupled with a range-extending gasoline engine. “The Spark EV offers customers living [...]
US batterymaker A123 will develop a battery pack for a new electric vehicle from China’s Shanghai Automotive Industry Corp (SAIC). The two companies said A123 will provide a customized battery pack to Advanced Traction Battery Systems, a joint venture between A123 and SAIC. The pack wil be used to power a new electric vehicle that [...]
