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Thread: A123 fail?

  1. #21
    Senior Member Lloyd's Avatar
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    They purposefully stripped the military contracts so there would not need to be approval for the sale to a chinese company. There still needs to be an approval for technology release, however. This is where there is potential to stop the sale.

  2. #22
    Model S: VIN P65513 gg_got_a_tesla's Avatar
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    Sorry I'm not on the same page as many of you on this; I don't quite see China and Chinese manufacturing as part of some "axis of evil" or some such.

    I know Govt subsidies to Chinese industries is a problem but, looking at this from the environment and EV adoption point of view, there's no bigger market than China. I'm definitely all for this if there's no national security at risk.

    By shutting China out from such situations (the International Space Station comes to mind), the West is merely delaying the inevitable and not really doing the world much good in general.
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  3. #23
    Senior Member SCW-Greg's Avatar
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    GG you're absolutely right. The only issue is loosing innovative jobs to China, but ultimately that's inevitable. We just need to try and preserve as many as possible - here for as long as possible - before it goes overseas. And the market in China *is* huge, but also most of that is at their own standards of poverty. What market is left for those who can afford a car, will likely be tied up/owned/subsidized by internal country manufacturing, not from any exports from the U.S. We are the innovators of the world, but we will never compete when it comes to manufacturing.

    Although I suppose there is hope, as I just got back last week from HK and Shenzhen China... I was surprised to see most all cars were either Toyota's, Lexus', VW's, Audi's, Mercedes, a few BMW's, and one or two Rolls. I saw a Ford dealership, but none on the road. Only the trucks it seems are something different. Of course we didn't go deep into China, where the rubber meets the road with 3rd world vehicles. BTW, in HK (don't know if this is true in other areas), the luxury tax for *all* vehicles is 100%. You really gotta want a car in HK, and like NY, most people ride transit to get around.

  4. #24
    Member chimpanzee's Avatar
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    Chinese firm nabs U.S. battery maker A123 - Business on

    Mega-supplier Johnson Controls has withdrawn its bid for the bankrupt battery maker A123 Systems after declining to match a higher, $256.6 million bid submitted by the Chinese company Wanxiang Group Corp.
    JCI originally appeared to have landed a deal to take control of the automotive portion of A123 – but the deal was scuttled in bankruptcy proceedings – though it leaves open some national security concerns. Meanwhile, Illinois-based Navitas Systems will buy A123’s government business, including all outstanding military contracts, for $2.25 million.

    A123 currently is the principal supplier of batteries for Fisker, which has seen its deliveries interrupted since the company filed for bankruptcy in October. The battery maker’s other clients include General Motors which will use an A123 pack in its new Chevrolet Spark EV electric vehicle.
    The final sale to Wanxiang, which has been something of an uncertain suitor until now, is subject to approval by the bankruptcy court. A hearing is currently scheduled for Dec. 11, 2012. Sale to Wanxiang is also subject to review by the Committee for Foreign Investment in the United States and requires approval by the U.S. government. Timing for such review and approvals is unknown at this time.

  5. #25
    Member Zzzz...'s Avatar
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    A123 have their most advanced tech - cathode material production plant that belongs to them located in China. A123 also got some research facilities in China. They do also have some co-development co-production going on with other Chinese battery manufacturers. And they got some government contracts in China. With anode and to some degree electrolyte chemistry being a commodity, most likely they use Chinese manufacturers for those too.

    Wanxiang is actively investing in US economy. And have got half a dozen (IIRC, could be more) plants in US already.

    Overall take over proposal for $465M was an excellent deal for US. Even shareholders would have had some money back(still owing 20% of company). Plus there was $376M in liabilities... But some politicians have effectively stopped the deal, my understanding that A123 was not able to obey terms of the contract with Wanxiang because of bureaucracy delays with deal approval and overall uncertainty over the it.

    Now Wanxiang will pay $257M, and will get essentially debt free company (plus A123 would be 100% owned by them, not just 80%). Good deal for US? Probably still is. And Wanxiang takeover is better for EV industry on the long run. I believe Wanxiang while being somewhat big company, still smaller and more dynamic then Johnson Control. Even the very fact that they are willing to invest more then JC say that this business is more important to them.

    But again, we have same politicians trying to screw things up second time.
    "You can save some money by buying a Lamborghini Huracan ($237,250) or the Ferrari 458 Italia ($239,340), but both are slower than the Tesla." (c) Bloomberg

  6. #26
    Head Moderator / Administrator doug's Avatar
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    Believe it or not. A123 has changed their name to B456.

    A123 Systems - Current Report

  7. #27
    Dr. EVS rolosrevenge's Avatar
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    That doesn't make any sense...
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  8. #28
    Senior Member smorgasbord's Avatar
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    Quote Originally Posted by doug View Post
    Believe it or not. A123 has changed their name to B456.
    Repeat after me: "Self Destruct Sequence 1, Code 1, 1A, 2B...."

  9. #29
    Lead Moderator Doug_G's Avatar
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    Quote Originally Posted by doug View Post
    Believe it or not. A123 has changed their name to B456.

    A123 Systems - Current Report
    Well that's hilarious. Can't think of a better name, so you take the next-available letter and digits!
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  10. #30
    Member Bearman's Avatar
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    Nov 2011
    After sale to Chinese firm, A123 changes name to B456

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