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.
No, Chip Yates doesn't get range anxiety. The record-setting pilot and motorcycle rider made recent news by testing out a new, EnerDel-made battery pack in the battery-electric Long-ESA airplane he set a speed record with a year ago. Yates' 20-minute flight last week got him up to 5,500 feet and he hit 175 miles per hour at "less than 50 percent throttle." Yates, whose 258-horsepower plane now has twice the battery output as last year, is shooting for 250 mph.
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.
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.
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.
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
Battery maker Ener1 has reportedly fired its chief operating officer and EnerDel president, Richard Stanley. Stanley's April 8th termination was apparently disclosed in a Securities and Exchange Commission filing made by Ener1 last Wednesday.
Ener1, Inc. has named Christopher Cowger, former corporate vice president and general manager for semiconductor firm Advanced Micro Devices (AMD), as chief executive officer of its lithium-ion battery subsidiary EnerDel. Cowger was also appointed as president of Ener1.
Lithium-ion battery manufacturer Ener1, Inc., has sold $25 million worth of senior unsecured notes, common stocks and warrants to raise funds to continue expanding its U.S. production capabilities. Ener1 will combines the $25 million with money received under a federal stimulus grant from the U.S. Department of Energy to support its ambitious goal of substantially increasing its annual output of lithium-ion batteries.
