Hybrid Tech Pairs Up With Boston-Power In Effort To Win Fisker Automotive – Signals Willingness To Build Karma

FEB 5 2014 BY JAY COLE 4

The Fisker Karma Can Be Seen prominently In Harrison Ford Film Paranoia

The Fisker Karma Can Be Seen prominently In Harrison Ford Film Paranoia

On Wednesday, February 12th, Fisker Automotive will once again come up for sale; and looking to strengthen their bid against rival Wanxiang America, Hybrid Tech has joined forces with a domestic battery maker.

Hybrid Tech Also Hints At Making Use Of Fisker's Delaware Facilities Where The Atlantic Was To Be Built

Hybrid Tech Also Hints At Making Use Of Fisker’s Delaware Facilities Where The Atlantic Was To Be Built

Last month a Delaware judge tossed Hybrid Technologies’ bankruptcy plan for Fisker saying there was more value to be had with a competing bid from Chinese part giant Wanxiang.

The judge also noted that he felt Hybrid Tech and Fisker had perhaps rushed the Chapter 11 process in an effort to complete the transaction before other deals could be flushed out.

“The debtors’ bankruptcy is a tragedy for many while the purchaser tries to purchase the Fisker assets using discount dollars. United States taxpayers, Delaware taxpayers, employees, unsecured creditors are all losers. The emergence of another very interested, cash-paying suitor, Wanxiang America Corporation, may enhance creditor recoveries and shows the mischief from undue speed.”

To better compete against Wanxiang, Hybrid Technologies has formed an alliance with Boston-Power, signalling their willingness to resume production of the extended range Karma, as rival Wanxiang had also previously committed to do.

According to Megan Grant, a spokesperson for Hybrid Technologies:

“This non-exclusive partnership with Boston-Power is a key element of Hybrid’s ongoing review of alternative leading-edge battery suppliers that will support its Karma restart program and deliver a best-in-class battery solution.  Hybrid has been engaged in a thorough review of all of Fisker’s supplier relationships, with the goal of ensuring that customer demands for a high-quality and high-performance luxury EV are met.”

With The Purchase Of A123 In 2013, Wanxiang Now Supplies The Chevrolet Spark EV With Lithium Battery Systems

With The Purchase Of A123 In 2013, Wanxiang Now Supplies The Chevrolet Spark EV With Lithium Battery Systems

The company’s press release also noted that Hybrid Tech “is committed to manufacturing in the United States and is seeking opportunities to use the existing Delaware facility.”  – matching the basic verbage used by Wanxiang in their bid to acquire Fisker.

As for Wanxiang’s battery supplying abilities, they are already in the best position to build the Karma as they purchased the assets of bankrupt US battery maker A123 last year.

A123 originally supplied all the lithium pack found inside the Karma, as well as currently produces the cells found inside the Chevrolet Spark EV.

Delaware Online

Categories: Battery Tech, Fisker / Karma

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4 Comments on "Hybrid Tech Pairs Up With Boston-Power In Effort To Win Fisker Automotive – Signals Willingness To Build Karma"

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You’d think there’d be more interest in Utilities sponsoring devices that use electricity primarily at ‘Grid Friendly’ times, such as the Fisker which could charge primarily after midnight. But that’s primarily where the Utilities still own the generation which I think is just the midwest and down south. (Our old utility was bankrupted essentially when a ‘deregulation’ (forced regulation) plan was implemented state-wide by our Great Brain governor at the time). The plan was beyond brain dead, but at least it was not overtly fraudulent as I believe the California plan turned out to be (ENRON inspired).

My current Utility is so disinterested in any additional usage (British National Grid), that they want all 3 local power stations to close (since they 1). don’t own them, and 2). want to make more money transmitting power from any existing far away places. Our NY State Public Service commission is hesitant to go along with the deal, since there is so little power generation in our area as it is that they are fearful of running out of juice during a hot summer snap.

“You’d think there’d be more interest in Utilities sponsoring devices that use electricity primarily at ‘Grid Friendly’ times”
I think it speaks to their level of greed Bill. In the past, they would have been all over the idea as you have mentioned. 2013 saw 130,000+ residential PV solar installs and 95,000+ EVs. Fast forward 10-15 years when both of theses numbers start to be in the millions and a semi-reasonable priced grid storage battery hits the scene. Maybe a number of old LEAF batteries, but when all this collides, the utilities are gonna wish they had offered a better plan.

Well, humm, I’m not invested in any Utility Stocks at the moment so I can speak my mind since its not harming my bottom line. The utilities do have a nagging worry that they’ll be legislated out of existence. Its happened in this state before, where utilities were forced to give 6 cents per kwh credit when they only charged retail 4.5 cents/ kwh. Decades ago this was 3 times the price of electricity they themselves generated. They lost money the more electricity they handled from ‘the cogenerators’, many of whom were just taking methane and throwing out all the excess waste heat, since the only thing they cared about was the $$$$$$ 6 cents/ kwh which was high decades ago. Niagara Mohawk effectively went bankrupt, and the other investor owned utilities survived by becoming only distribution centers and no longer did any generation. Of course, retail rates skyrocketed. But politicians never bother themselves with any of the ramifications of their actions. Currently, In NY State, the deal is not too bad for them since they only have to refund what people paid for the electricity in the first place from the utility. Obviously, if everyone had solar panels and… Read more »

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