The White House's $1B+ attempt to build an industry of companies that make batteries for electric vehicles is going flat. Firms have few clients and operate well below capacity, and their futures are in doubt. A major problem is that the government gave grants that were linked to production timetables which weren't tied to demand.
EV battery maker Ener1 (HEV) files for bankruptcy in a bid to restructure debt and raise more equity funding. The firm was a recipitient of a $118.5M federal grant back in 2009 as part of a broad EV battery technology program. Shares now trade on the pink sheets under the symbol HEVV for less than three pennies.Jan. 26, 2012, 12:59 PM | 1 Comment
Bloomberg New Energy Finance sees a capacity glut emerging for lithium-ion batteries used in electric vehicles, with capacity exceeding demand by nearly 2x in 2013. The lower prices caused by such a glut would benefit electric carmakers such as TSLA, but could seriously dent the margins of battery manufacturers such as JCI, AONE, and HEV. (previously)Sep. 14, 2011, 3:45 PM
As shipments of hybrid and electric cars take off, so will sales of lithium-ion batteries: IHS expects industry revenues to grow from $11.8B in 2010 to $31.4B in 2015, and $53.7B in 2020. A123 Systems (AONE), Ener1 (HEV), and China's BYD (BYDDF.PK - previously) are some of the names developing lithium-ion batteries for cars.Aug. 15, 2011, 2:08 PM | 2 Comments
Ener1 (HEV +26%) pops after receiving approval from the Chinese government for its joint venture with Wanxiang Electric Vehicle to begin co-manufacturing lithium-ion energy storage systems for the China market.Jul. 18, 2011, 11:15 AM | 1 Comment