Tag Archives: aone
Wanxiang: A123 Buyout?
A123 may have declared in its bankruptcy filing this week that it has chosen U.S.–based Johnson Controls, rather than Chinese rescuer Wanxiang, as the preferred bidder for its automotive battery business. But that doesn’t mean that Wanxiang is letting go of its $465 million bid to buy A123 outright. That’s the upshot of a Thursday [...]
A123 Systems: Going to Zero?
There was so much enthusiasm when high-performance battery manufacturer A123 Systems (NASDAQ:AONE) came on the scene. The promise of an advanced battery manufacturing facility pumping out batteries for next-generation electric cars while providing jobs for US workers was a bold one, and one that a lot of folks cheered. But certain realities rapidly turned that [...]
Chinese Investor Saves A123 Systems from Death
As its losses deepen, A123 Systems is reaching out to China for a new financial lifeline. Under the terms of a new non-binding memorandum of understanding, the electric vehicle battery maker could receive up to $450 million from China’s largest automotive components supplier Wanxiang Group Corporation. A123, which makes advanced lithium-ion technologies, supplies batteries to Fisker [...]
In Desperation, A123 Raises $39M
Lithium-ion battery maker A123 Systems on Friday announced plans to raise about $39 million in cash to shore up its finances as it struggles to survive in the midst of a massive recall of its automotive batteries. But the company also warned that it only had cash to fund operations through the next four to [...]
A123 Systems Announces Battery Breakthrough
The promising but financially troubled A123 Systems lithium-ion battery maker was expected to announce today that it has made a significant advance in battery technology that will enable electric car batteries to last longer and cost less. A123 has been a leader in the race to develop improved batteries for electric cars and has received [...]
More Problems at A123 Systems
Lithium Ion battery maker A123 Systems (NASDAQ:AONE) recently said in its 8K filing with the SEC that many events have raised “substantial doubt on [its] ability to continue as a going concern.” Back on March 26, A123 started a project with an estimated cost of $51.6 million to replace battery modules and packs that contained [...]
A123 Raises $50M: Is It Enough?
A123 may have solved its short-term financial problems by raising $50 million in debt on Saturday. But the price of saving the beleaguered lithium-ion battery maker’s immediate concerns could lead to a “death by a thousand cuts” to its share price and long-term viability. That’s what some analysts are saying about A123’s weekend announcement of [...]
A123 Reports $125M Q1 Loss
A123 (Nasdaq: AONE) confirmed a record loss of $125 million in the first quarter of 2012 and said it would seek debt financing as it struggles with a massive battery recall that will take up its existing factory capacity through the next It’s the latest in a string of bad news for the Waltham, Mass.-based [...]
A123′s Stock Now Under $1
A123 (Nasdaq: AONE) had a rocky 2011. 2012 is turning out to have its deep challenges as well. In the face of recent genuinely positive design wins for the lithium-ion battery maker across its target markets of transportation and utility-scale storage, the firm is facing threatening self-induced as well as external issues. On the positve [...]