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.
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A123 fail?
- Thread starter chimpanzee
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- a123 Energy Environment Policy
gg_got_a_tesla
Model S: VIN 65513, Model 3: VIN 1913
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.
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.
SCW-Greg
Active Member
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.
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.
Zzzz...
Member
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.
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.
rolosrevenge
Dr. EVS
smorgasbord
Active Member
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Well that's hilarious. Can't think of a better name, so you take the next-available letter and digits!
JRP3
Hyperactive Member
Raffy.Roma
Rome (Italy)
My guess is the name change is just for what's left of the company that's bankrupt. So people that owned AONE shares now have worthless shares in a company called B456. After Chapter 11 they make a new company that is probably called A123 again.
pilotSteve
Active Member
A123 systems (battery maker for Fisker) changes its name
I got a hoot out of this: "the bankruptcy of A123, also a recipient of federal funds. The Waltham, Massachusetts-based battery supplier, bought last year by China’s Wanxiang Group Co., in a U.S. regulatory filing last week said it changed its name to B456 Systems Inc." (from Bloomberg)
I got a hoot out of this: "the bankruptcy of A123, also a recipient of federal funds. The Waltham, Massachusetts-based battery supplier, bought last year by China’s Wanxiang Group Co., in a U.S. regulatory filing last week said it changed its name to B456 Systems Inc." (from Bloomberg)
Raffy.Roma
Rome (Italy)
This matter has also been discussed in another thread:
http://www.teslamotorsclub.com/showthread.php/8854-A123-fail/page3
http://www.teslamotorsclub.com/showthread.php/8854-A123-fail/page3
Laumb
smrtass.
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
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