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A123 Systems Inc
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China's largest auto parts maker won U.S. government approval to buy A123 Systems Inc, a bankrupt maker of electric car batteries that was funded with U.S. government money, a source familiar with the situation said on Tuesday.
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LOS ANGELES, May 20- In October 2004, then California Governor Arnold Schwarzenegger rolled up to a pioneering fueling station at Los Angeles International Airport in a hydrogen-powered metallic blue Hummer loaned to him by General Motors Corp..
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The filing with U.S. Bankruptcy Court in Delaware will allow the Los Angeles company to exit the auto sector and refocus on energy storage, a far less capital-intensive business.
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The filing with U.S. Bankruptcy Court in Delaware will allow the Los Angeles company to exit the auto sector and refocus on energy storage, a far less capital-intensive business.
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The filing with U.S. Bankruptcy Court in Delaware will allow the Los Angeles company to exit the auto sector and refocus on energy storage, a far less capital-intensive business.
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May 1- U.S. green car startup Coda Holdings Inc filed for Chapter 11 bankruptcy protection on Wednesday after selling just 100 of its all-electric sedans, another example of battery-powered vehicles' failure to break into the mass market.
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*Pricey plug-in's fans included Justin Bieber. Members of the House Oversight Committee cited Department of Energy documents at a hearing on Wednesday as showing Fisker got $32 million in payments, even after it failed to launch the Karma vehicle in February of 2011 as planned.
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Members of the House Oversight Committee cited Department of Energy documents at a hearing on Wednesday as showing Fisker got $32 million in payments, even after it failed to launch the Karma vehicle in February of 2011 as planned.
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*At issue is $529 mln loan California carmaker received in 2009. April 24- Taxpayer-backed funds kept flowing to electric carmaker Fisker Automotive months after the company failed to meet key production benchmarks, lawmakers said at a congressional hearing on Wednesday.
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By Ayesha Rascoe and Deepa Seetharaman. April 24- Taxpayer-backed funds kept flowing to electric carmaker Fisker Automotive months after the company failed to meet key production benchmarks, lawmakers said at a congressional hearing on Wednesday.
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WASHINGTON, April 24- The U.S. Department of Energy continued to provide funds to Fisker Automotive even after the company failed to meet key production benchmarks in early 2011, according to a document released at a congressional hearing on Wednesday.
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*At issue is $529 mln loan California carmaker received in 2009. April 24- U.S. lawmakers grilled top officials from Fisker Automotive Inc on Wednesday over what was termed "the U.S. Department of Energy's bad bet" when it backed the "green" car-maker with hundreds of millions of dollars in loans.
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*At issue is $529 mln loan California carmaker received in 2009. April 24- U.S. lawmakers grilled top officials from Fisker Automotive Inc on Wednesday over what was termed "the U.S. Department of Energy's bad bet" when it backed the "green" car-maker with hundreds of millions of dollars in loans.
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*At issue is $529 mln loan California carmaker received in 2009. April 24- Fisker Automotive Inc, which has not built a vehicle since July, has the potential to succeed and repay nearly $200 million in government loans if the "green" car maker is able to find the right "financial and strategic resources," according to former CEO Henrik Fisker.
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*Raised $1.2 bln from investors, but cash has dwindled to $30 mln. DETROIT, April 5- Fisker Automotive, the struggling, government-backed hybrid sports car maker, said on Friday that it terminated most of its rank-and-file employees, in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing.
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*Raised $1.2 bln from investors, but cash has dwindled to $30 mln. DETROIT, April 5- Fisker Automotive, the struggling, government-backed hybrid sports car maker, terminated most of its rank-and-file employees on Friday, in a last-ditch effort to conserve cash and stave off a potential bankruptcy filing, sources said.
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DETROIT, March 27- Fisker Automotive, which has not made a vehicle since July, placed its U.S. workforce on furlough this week as part of its effort to keep costs low while it continues to search for a strategic partner, the U.S. automaker said on Wednesday.
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*Henrik Fisker resigned from the company last week. DETROIT, March 19- The abrupt resignation of Fisker Automotive's founder Henrik Fisker was prompted by disagreements with the company's chief executive over funding and operational strategy, two people familiar with the matter said.
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*China aiming for 2 mln capacity by 2020. PARIS/ BEIJING, March 18- China will save the electric car, Renault-Nissan boss Carlos Ghosn predicts- and with it the vision of battery-powered motoring on which he has staked his credibility.
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Leaving was a' very tough' decision- Henrik Fisker. DETROIT, March 13- The founder and executive chairman of Fisker Automotive Inc resigned from the "green car" startup on Wednesday, citing "several major disagreements" with executive management over business strategy. Henrik Fisker announced his departure from the maker of the Karma plug-in hybrid in an email.
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GENEVA, March 5- The production restart for Fisker Automotive Inc's flagship Karma plug-in hybrid vehicle is a "couple of months" away, Fisker co-founder Barney Koehler said on Tuesday. The restart is contingent on a deal with Fisker's battery supplier, A123 Systems Inc, which was purchased by Wanxiang Group, China's largest auto parts maker.