Boracay is certainly a long way from Indiana. But business is business, and EnerDel has found some on that island in the Philippines. And, to quote the hip-hop lexicon, there's some three-wheeled motion to boot.
Lithium-ion battery maker EnerDel is trying to broaden its sales into the secondary-battery-storage market as a way to help give the struggling company a second life of its own.
On the electric car front, Dan Senor has failed.
You can't say EnerDel isn't still giving it the old college try.
For companies in the lithium battery business, multi-segment marketing has become a necessity. A few years ago, electric vehicles looked like the next smartphone-like growth area for battery makers. Now, it's more turmoil than profits for some battery makers.
"So about those free cars you donated to us..."
Remember when the U.S. capital of RV production, Elkhart, IN was going to escape the doldrums that the decline of the motor home industry brought on by shifting over to building electric cars? Not so fast. As NPR reports, rising demand for RVs has helped boost employment in Elkhart, IN, while the number of workers at the factory building Think electric vehicles has dwindled to just two.
Lithium-ion battery maker Ener1, which filed for bankruptcy in late January, plans to emerge from its Chapter 11 status by mid-March with the help of $86 million in new equity and debt-holder agreements to restructure their debt on the company.
Ener1, a maker of lithium-ion batteries for electric-drive vehicles and a major investor in now-bankrupt electric-vehicle maker Think, has gone bankrupt itself.
Looks like things that were bad with Ener1 (and the Think City electric car) are about to go to worse. After a string of bad news (see here, here, Sebastian Blanco
When electric vehicle maker Think filed for bankruptcy last spring, it owed millions of dollars to EnerDel subsidiary Ener1. Ener1 was also a major investor in Think and a lot of the company's worth was tied up with the Norwegian EV maker. Any way you slice it, Think's failure put Ener1 in a bind. They were unable to collect on their debts, and their investments were suddenly worthless. Just recently, En
The bankruptcy of Think Global is dragging Ener1 down even more, so an executive shake-up, it seems, is in order.
Ener1, a pioneer of lithium-ion batteries for plug-in vehicles, has warned that it might not have sufficient funds to remain operational as a result of losses from its investment in Think Global, a Norwegian automaker that declared bankruptcy in late June.
When Ener1 abruptly ended its four-year-long deal with Think Global, saying that its investment was "impaired," we had reason to worry. Now comes word that the struggles continue to mount at Think Global and that the automaker has filed for bankruptcy. Again.
When Ener1 abruptly ended its four-year-long deal with Think Global, saying that its investment was "impaired," we had reason to worry. Now comes word that the struggles continue to mount at Think Global and that the automaker has filed for bankruptcy. Again.
Back in October of 2007, Ener1 and Think Global inked what was hailed as the largest contract for lithium-ion batteries in automotive history. Under terms of that agreement, Ener1 was to deliver li-ion prototype packs to Think in March 2008 and pre-production packs in July 2008. Once those milestones were met, Ener1 expec
