Lithium Drive: Fisker Assets Sold For $149 Million To Wanxiang, Chinese Parts Maker ILC.v TNR.v LIT

  

  GreenCarReports has brought us the news of another Chinese strategic acquisition in technology sector. China is very anxious to acquire the latest technology in electric cars space. One can argue that Fisker Karma was not the best example and has lost its market battle to Elon Musk's Tesla, but the trend is quite clear. Another Chinese company has bought A123 Lithium battery maker before and China very quietly has become the leader in the lithium materials space now. You have to remember the names like Ganfeng Lithium now with its strategic partner International Lithium, with rumours about Apple interest in Tesla are buzzing in the social space.

Lithium Catalyst: Apple Electric iCar Coming From Tesla? ILC.v TNR.v AAPL TSLA

"It will not take much to ignite Lithium Bull again - just four words will do: China, Pollution, Tesla and Apple. We have written extensively about three of them before and now we can have the groundbreaking development with Apple thinking about joining the Electric Party.
  Will Steve Jobs' Apple iCar Dream finally come to reality with Tesla? Mickey Drexler was talking about his friend: "Steve's dream before he died was to design an iCar". Tesla Motors and Elon Musk have proven that Electric Cars are for real: technology is here - we just need the mass market.
  We are talking here about the reality distortion field worthwhile Steve Jobs memory. Billions of Apple cash and Tesla's technology can make the miracle and take the market by storm with Tesla Model E for electric cars mass market made years ahead.
  Lithium investment theme will fit very well with this conglomerate. Lithium batteries are everywhere: in every Apple mobile devise, in every Tesla electric car. It is not a coincidence that Tesla is preparing plans to build super Lithium battery plant. All these plans: Tesla Model X launch, Tesla Model E for mass market development and Lithium Battery plant will need a lot of Capital and Apple has it. Is it the match made in heaven? We will see very soon, but investors are better take notice about this trend already."

GreenCarReports:

Fisker Assets Sold For $149 Million To Wanxiang, Chinese Parts Maker

The assets of bankrupt Fisker Automotive were sold to Wanxiang America at the close of an auction in Delaware bankruptcy court that lasted more than two days and lasted 19 rounds.

Bloomberg reports that the Chinese company paid a total of $149.2 million for the company, or six times the price of $25 million first offered by unsuccessful bidder Hybrid Tech Holdings, whose opening bid was $55 million as the auction began.

Winning bidder Wanxiang is China's largest auto-parts group. It also owns A123 Systems, the lithium-ion cell maker whose batteries were used in the luxury range-extended electric Fisker Karma sedan.

2012 Fisker Karma

Hybrid Tech had sought to buy Fisker's assets privately; when Fisker filed for bankruptcy in November, it said it had agreed to that deal.

Hybrid's attempt to gain control of Fisker was spoiled by a late bid from Wanxiang, whereupon Hybrid Tech raised its bid to $55 million. Both Hybrid Tech and Fisker had sought to avoid an auction of the company's assets.

But U.S. Bankruptcy Court Judge Kevin Gross chose instead to put those assets up for open public auction. Fisker's many unsecured creditors would have received little or nothing from the Hybrid Tech bid.

2,500 Karmas built

Fisker Automotive built about 2,500 Karmas before halting production in July 2012 after a recall of defective cells by A123 four months earlier. A123 itself declared bankruptcy in October 2012; Wanxiang purchased A123's assets in January 2013.

The sale to Wanxiang must still be approved by Judge Gross; it will be presented to him on Tuesday.

2012 Fisker Karma EcoChic, New York City, Jan 2012

While the price of almost $150 million approached the outstanding DoE loan balance of $168 million, it does not appear that the DoE will see any of that money.

Its loan was sold to Hybrid Tech Holdings, the secretive Hong Kong-based company controlled by businessman Richard Li--an early investor in Fisker.

But Judge Gross ruled that Hybrid Tech can only recoup $25 million--or what it paid for the DoE loan--from the sale proceeds. Instead, the sale proceeds will be used to pay off Fisker's other, unsecured creditors.

Hybrid Tech issued a statement last night following the auction:

After actively bidding in the auction, Hybrid has elected to retain its rights as a lender rather than continue to bid for ownership of Fisker.

Hybrid acquired the Department of Energy’s secured loan of US$168 million in November 2013, and is the senior secured creditor of Fisker. After repayment of its debtor-in-possession financing and certain other costs incurred as part of the bankruptcy proceedings, Hybrid is entitled to be repaid ahead of the unsecured creditors on account of its security and, in relation to any assets that are ultimately determined to be unencumbered, will share in those assets together with all other creditors.

Hybrid will consider taking all necessary steps and appropriate measures to protect its interests in this matter, and remains committed to exploring other long term investment opportunities in the United States.

2012 Fisker Karma

Becoming a U.S. carmaker?

Both Wanxiang and Hybrid Tech have said they plan to utilize Fisker's assembly plant near Wilmington, Delaware, for future plug-in car production.

In a statement last month, U.S. Energy Secretary Ernest Moniz said the winning bidder for Fisker's assets would have to keep both development and assembly in the United States.

Fisker bought the Delaware plant for $20 million in 2010, but it has remained empty since then, with assembly of the Karma performed by subcontractor Valmet in Finland.

Thus far, Wanxiang has not developed and sold entire vehicles, but only parts and subassemblies.

With a nine-figure investment in Fisker's assets, it appears that may be about to change."

Lithium Generation: No War For Oil Required - Dump The Pump - Join National Plug In Day Today!

  We will be covering the National Plug In Day across more than 60 cities in US TODAY! Lets make it big this time! Spread the news, donate your tweet for the good cause and send your pictures @Sufiy: 

#NationalPlugInDay #NPID2012

Pictures and Videos from National Plug In Day

Electric Cars by Sufiy Blog

"As one very wise and honest  person has put it: "How to stop wars and terrorism? - Stop using Oil." We will paraphrase it here: How to Survive? - Stop using Oil - at least for transportation."

"Plug in Electric Vehicles are here! We're throwing a party across the country to celebrate on the second annual National Plug In Day on Sunday, September 23, 2012.  Search for an event in your area below.

Please register for the National Plug In Day event you will attend! You'll greatly help the cause by helping organizers to plan accordingly."

"Plug In America, the Sierra Club, and the Electric Auto Association once again join forces to create a nationwide observance drawing global attention to the environmental, economic and other benefits of plug-in electric vehicles through simultaneous events staged around the country."

Peak Oil: DON'T WORRY, DRIVE ON: Fossil Fools & Fracking Lies - US House Report On Toxic Chemicals

  We welcome ALL Electric Cars on our streets, but Tesla Motors is special - it shows us that the The Future Is Here Now!

Lithium Generation: AutoBlog In deep with Tesla CEO Elon Musk: Financials, Falcon doors and the Model S

Lithium Charge: Tesla Model S Performance test drive upfront and personal

"Get Amped! This is how it should be - upfront and personal. Green Mobility Revolution which is happening now. New Personal Freedom developed by the start up and not defined by the corporate rules. Dump The Pump - now you can do it. It is not for everyone yet - it is still too expensive, but it is the beginning. 

  Why Freedom and Electric Cars - what about the cords and plugs? Just have a look from another angle. If tomorrow someone will decide to switch off Oil supply - we are all done, No Alternatives, no mobility, no food, no services. Now think the unthinkable - what if it is your own government? It is very childish, but so many are still missing the point - we are all addicted to Oil, we are hooked on that needle - this is the way to control us.

  With Electric Cars we can seriously start to talk about the distributed energy generation, Solar, Wind - other alternatives. It is the time when the real Energy Security can be achieved for the country and also on the personal level. So all die hard fighters for personal freedom with guns and Drill Baby Drill mantra, maybe it is the time to reconsider - fossils are not only among the fuels."

Lithium Jolt: Nobuhiro 'Monster' Tajima Meets Electric Tesla Model S - Wants One

"Monster" charged with Electric Tesla Model S can produce a big Flash - the guy in the passenger seat next to Nobuhiro Tajima was sweating, holding with both hands and praying! Tesla Model S is a serious piece of automotive technology - Lithium powered rocket on the wheels - and it can handle even Monster despite all its designer look and high tech pleasantries. It is a Real "Normal' Super Car - only better."

Lithium Drive: Fisker Karma: An Owner's Review

Lithium Drive: Reinventing Fire: Transportation‬ - Electric Cars

 "Now we have technology to get off Oil - Electric Cars and Lithium Batteries provide us with the opportunity to "Leave The Oil Before It Leaves Us."

Lithium Rush: The Art Of War In The Markets: China Getting Ready For 5 Million Electric Cars by 2020

  "China knows too well the real price of Oil. All recent data points out that the spare capacity in Oil production is running dangerously low and any decreased demand from the developed world was immediately substituted by the rising demand from emerging economies."

Lithium drive: Fisker Karma | Fisker | Karma | Fisker of Schaumburg

Now we can meet Peak Oil in style!

Oil Shock - There's No Tomorrow.
"This animation deserves to be posted one more time. Post Carbon Institute has produced a brilliant documentary "There Is No Tomorrow", which we highly recommend to watch everybody. You can personally judge our progress now."

Fisker Atlantic New York Reveal Event - Responsible Luxury For EVer

"FISKER AUTOMOTIVE UNVEILS THE ALL-NEW FISKER ATLANTIC IN NEW YORK. Fisker Automotive unveils the all-new Fisker Atlantic confirming Fisker Automotive's bold future direction reinforcing its' commitment to uncompromised styling and exquisite design. Watch the entire reveal event and see video footage of the Fisker Atlantic in this video. Learn more about Fisker Automotive atwww.fiskerautomotive.com"

Lithium Jolt: Justin Bieber's Fisker Karma in Chrome - "Responsible Luxury for EVer"

Lithium Drive: Fisker Karma - Autoweek Drives

2012 Lithium Rush: Fisker Karma vs Tesla Model S: Video Debate

  Now, finally, we have some models of electric cars to chose from. More models of electric cars are to come and this landscape will be changing very fast.

Electric Cars - You Will Finally Get Some Choice

"Seth Fletcher brings a very important point across - Electric Cars at this stage are all about the choice. Finally, you can have some choice at least with your own mobility. You can plug in and use Domestically produced relatively cheap electricity and support Solar, Wind and other forms of Green Energy at your choice of supplier. And now you know what happens If You Can't Plug Your Car In. More and more people are getting it and the recent hatred campaign against electric cars only confirms the trend. Gas prices are talking for themselves now. Saudi Oil is lost in translation if US and UK are pushed to open Strategic Reserves again and sell cheaper Oil to the happy Chinese buyers.

  Once technology improves, we will have the Switch - when consumers will be switching to the electric cars and create mass market. Demand is already there - we need just to have electric cars which will be better than ICE ones. "iPhone moment"for electric cars will come with the better range and low cost as promised by recent announcements about advance of Lithium Battery Technology and new marketing approach, when Lithium Battery is leased rather that sold with electric car. You will pay monthly fees for the lithium battery lease and all the trouble with warranty will be gone - you can exchange or upgrade your battery. In case of Renault ZE payments are promised to be in line with ICE cars: cars are priced as their "normal" ICE comparable models and your electricity and lease payments per month will be the same as for the Gas at this level, but with rising Gas prices you will get some additional gain."

  It is always very important to remember that at some point in the Gas prices you will be happy to drive Anything or, like in case of China, you are not allowed to buy any, but only electric car in Beijing now - unless you have won the plate lottery.

Lithium Drive: Translogic: Fisker Karma

2013 Fisker Karma

Lithium Drive: 2012 Fisker Karma Plug-in Hybrid First Drive Review ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax

   Fisker is battling now on all fronts and in the news again: there are some bugs, some issues with the new DOE loan to be released for the Nina project, but the Karma is here and let's check it out!

Lithium Drive: Test Drive: The Fisker Karma 

  Fisker Karma is making rounds on the road and in mass media. Not everything is smooth, but it was never  supposed to be - it is the game changing and this technology is evolving as we speak now. Tesla Model S will bring another beauty - All Electric One - to the green mobility conversation this year. Nissan has sold now 10,000 Leafs in US and more than 20,000 world wide. We will see all sceptics in a few years time with gas north of 5 dollars!

  Project Nina from Fisker will open another opportunity for the mass market of Electric cars. GM Volt with Ampera in Europe will be taking their share of the market. Renault ZE promise the most affordable electric cars now with lithium battery lease - things are moving fast and Energy Secretary Steven Chu predictions about the price for the lithium batteries going down by 70% in 2015 will make this electric revolution happening for Real.

  While you are dreaming about Green High End luxury cars, other people are dreaming about the business opportunity this energy transition provides to our generation.

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  Fisker Karma is making rounds on the road and in mass media. Not everything is smooth, but it was never  supposed to be - it is the game changing and this technology is evolving as we speak now. Tesla Model S will bring another beauty - All Electric One - to the green mobility conversation this year. Nissan has sold now 10,000 Leafs in US and more than 20,000 world wide. We will see all sceptics in a few years time with gas north of 5 dollars!

  Project Nina from Fisker will open another opportunity for the mass market of Electric cars. GM Volt with Ampera in Europe will be taking their share of the market. Renault ZE promise the most affordable electric cars now with lithium battery lease - things are moving fast and Energy Secretary Steven Chu predictions about the price for the lithium batteries going down by 70% in 2015 will make this electric revolution happening for Real.

  While you are dreaming about Green High End luxury cars, other people are dreaming about the business opportunity this energy transition provides to our generation.

International Lithium Corp.: Phase 1 Drill Program Has Commenced Mariana Lithium Brine Project, Argentina 

International Lithium: 78 Metre Pegmatite Intersection Returns High Grade Lithium Mavis Lake - Fairservice Lithium and Rare Project, Ontario 

"We have a very impressive results from International Lithium Corp. today. Mavis Lake drill program has delivered the best Lithium intersections with high LI grades in Canada for the 2011 season at least! Project is growing into very promising discovery and other REM are to be reported later. Now we can see what Ganfeng Lithium was looking for during their 9 months DD on this company. Drills are primed now for Mariana Lithium and Potash project in Argentina and we hope it is only the beginning of the good news for this promising company.

  Company is very tightly held with 10% stake by Ganfeng Lithium and insiders hold more than 50% of the company. Insiders were only buying from the moment of spin out this company last May."

International Lithium Corp. ("ILC") a "Clean Tech" lithium resource developer with a global portfolio of lithium assets. It is 29% owned by TNR Gold Corp (TNR:TSX).

International Lithium Corp. ("ILC") currently holds highly prospective projects in the most prolific areas of the world for lithium and rare metals. ILC has recently secured a strategic investor, Jiangxi Ganfeng Lithium Co Ltd, from China, with focus on advancing the core ILC projects.

International Lithium Corp. Presentation.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

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Lithium Jolt: You have the Right to hate your future: Fisker says federal loan money used only in U.S.

 Something very important is happening these days in the Electric Car space. Electric Cars are moving from the Stage One - "Nobody notice and knows about it" to the Stage Two - "It is the Real Threat and we are better to deal with it right now". Everybody has the right to hate, but it looks like some has this right more than others and this right is well greased. Why somebody is so worried? Is it because Plug In Day was organised in more than 28 cities all across US with thousands of people taking part and it is with ONLY two models of electric cars on the market with still very limited supply? Is it because charging stations are mushrooming all across the country and Wall Street Journal complains about it? Is it because Chevy Volt and Nissan Leaf will be finally available in all markets in US by the end of the year? Or the matter to be worried now is that the next QEn+1 is coming and the price of Oil to be going up again? Maybe it is the coming twenty models of Plug In carsto be released next year? Or - we will throw the last one and you can continue - maybe it is the technological progress: with Tesla Model S coming next year with 300 miles range and Toyota announcing the lithium battery with 1,000 km miles range per charge by 2015 with Nissan working on 10 minute charger for the electric cars?

  An unprecedented campaign in mass media against Electric Cars is ongoing these days. Reasons are all the same: "Electric Cars are dirty, they are very expensive, they are ugly, they are not selling well and there are no places to charge them". Last week the new claims were added to the hating mix - "dirty money and dealings in the electric space": SolyndraGate is taking over the Fisker. Why this old no news was made the news by FOX all over the media we are not sure...maybe it is related to the election "silly season" somehow. 

  The real reasons are much deeper and crucial for us and our ability to go forward: without the clear plan for the Energy Transition not only Wall Street will be occupied very soon. Next round of Inflation and Oil shock will place all society on the edge of the social break down. We still have the time and can vote one electric car and one charging station at a time, make our opinion known or support the companies involved in the Next Big Thing, but we need to have our Manhattan project for the Electric Cars on the state level and we need it now.

All you need to know about Peak Oil in one video.

              Energy Transition: Peak Oil, Wars and Price of Freedom

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• Lithium Charge: Fisker Karma debuts on Two and a Half Men with Ashton Kutcher's new character ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup (sufiy.blogspot.com)
• Lithium Charge: Revenge Of The Electric Car opens in US October 21st ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax (sufiy.blogspot.com)
• Lithium Charge: FOX: Betting Big on Electric Cars ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax (sufiy.blogspot.com)
• Lithium Jolt: Toyota Motor has developed a secondary electric car battery that can last up to 1,000 km per charge ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm. (sufiy.blogspot.com)
• Lithium Jolt: Doubling EV range with solid state batteries ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax (sufiy.blogspot.com)
• Lithium Drive: Volvo making diesel-electric plug-in wagon for Europe ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax (sufiy.blogspot.com)
• Lithium Charge: Northeast states form electric vehicle network ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax (sufiy.blogspot.com)
• Lithium Charge: Electric Cars: National Plug In Day, taking place on Sunday, Oct. 16, 2011 ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, (sufiy.blogspot.com)
• Lithium Charge: The Electric Revolution ilc.v, tnr.v, czx.v, rm.v, lmr.v, abn.v, asm.v, btt.v, bva.v, bvg.v, epz.v, fst.v, gbn.v, hao.v, jnn.v, ks.v, ktn.v, kxm.v, mgn, mxr.v, rvm.to, svb, ura.v, nup.ax, srz.ax, usa.ax (sufiy.blogspot.com)