A123

Economy
4:51 pm
Fri March 8, 2013

State of Michigan says bankrupt battery maker can’t transfer tax credits

A123 Systems Inc.'s battery manufacutring facility in Livonia, Michigan.
A123 Systems Inc. Facebook

The State of Michigan says the new owner of bankrupt battery maker A123 Systems cannot get the company's state tax credits.

In April, 2009 the state awarded a “high-tech state tax credit” worth a little more than $25 million over 15 years and a “battery cell state tax credit” worth $100 million over four years

China’s Wanxiang Group (specially, one of it's American-based subsidies) bought most of A123 Systems' assets for a little more than $250 million. A123 says those assets include the state tax credits for two battery plants in Romulus and Livonia.

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Economy
12:50 pm
Wed December 19, 2012

Weak battery market forces layoffs at Midland-based manufacturer

Argonne National Laboratory flickr

Dow Kokam, the advanced battery manufacturer, has laid off 40 to 60 employees at its Midland Battery Park and another factory in Missouri.

The company had about 250 U.S. employees, with 95 at its Midland site.

Bill Gagliardi, the company’s director of public affairs and branding told the Midland Daily News that the cuts were necessary to stay competitive in a weak market battery market:

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Economy
5:27 pm
Mon December 10, 2012

Chinese firm acquires bankrupt battery maker A123

A123 Systems Inc.'s battery manufacutring facility in Livonia, Michigan.
A123 Systems Inc. Facebook

A123, the bankrupt battery company with factories in Livonia and Romulus, announced Sunday that a Chinese firm will acquire most of its assets.

In an auction administered by the U.S. Bankruptcy Court for the District of Delaware, Wanxiang Group Corp. purchased most of the company’s commercial business assets for $256.6 million.

The acquisition has some Republican lawmakers worried.

From the Detroit Free Press:

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Politics & Government
5:33 pm
Fri October 26, 2012

Hoekstra says millions in green energy subsidies were wasted

Pete Hoekstra

Republican US Senate candidate Pete Hoekstra says there are alternatives to using government subsidies to encourage new energy industries and the jobs that go with them.

He said the proof is the business troubles facing two advanced battery companies with a presence in Michigan.

A123 filed for bankruptcy last week and LG Chem has furloughed its employees.

Hoekstra said that means millions of dollars in taxpayer subsidies were “wasted.” He said the subsidies also reward companies for working at applying for grants rather than their core business.

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Politics & Government
8:30 pm
Thu October 25, 2012

Despite sometimes making the “wrong bet” Senator Levin supports renewable energy subsidies

US Senator Carl Levin at a public appearance at Grand Rapids Community College Thursday afternoon.
Lindsey Smith Michigan Radio

US Senator Carl Levin says the federal government needs to invest in renewable energy companies, even if those investments sometimes go bad. Levin made the remarks during a visit to Grand Rapids Community College today.

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Politics & Government
4:40 pm
Fri October 19, 2012

Stabenow supports green energy subsidies despite A123 bankruptcy

A123 Systems Inc.'s battery manufacturing facility in Livonia, Michigan. The company filed for bankruptcy on Tuesday.
A123 Systems Inc. Facebook

U.S. Senator Debbie Stabenow is defending federal subsidies to promote green energy and advanced manufacturing businesses.

The loans, grants, and tax credits were part of the federal economic recovery package.

A company that got a quarter-billion dollar grant declared Chapter 11 bankruptcy this week. A123 employed hundreds of people in Michigan at facilities in Livonia, Romulus, and Ann Arbor.

Stabenow said the subsidies remain an important part of national energy and economic policy—even if some of the investments don’t pan out.

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Auto
4:59 pm
Thu October 18, 2012

Battery company bankruptcy refuels electric car debate

The recent bankruptcy of battery company A123 has some questioning the profitability of electric cars like the Nissan Leaf.
user cliff1066 flickr

Tuesday’s bankruptcy announcement by A123 Systems Inc. has many taking another look at the prospects of the electric car.

Conservative commentators have taken the opportunity to bash the Obama administration for its green energy investments.

In 2009, A123 received a $249 million grant from the Department of Energy.

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Politics & Government
8:13 am
Thu October 18, 2012

The week in Michigan politics

cncphotos flickr

This week Morning Edition host Christina Shockley talked with Michigan Radio's political analyst about the legislation to overhaul Blue Cross Blue Shield of Michigan, results of a poll that looks at where Michiganders stand when it comes to the six ballot proposals voters will see in the next three weeks and the bankruptcy of U.S. operation of electric car battery maker, A123 Systems.

Politics & Government
10:47 am
Wed October 17, 2012

Commentary: Debating Autos

The second presidential debate is over, and I’m pretty sure that if you polled Michigan voters and asked, simply, “who won last night?” there wouldn’t be any doubt of their answer.

It would be Justin Verlander, who last night pitched the Detroit Tigers to within one game of the World Series.

Indeed, I’d bet that more people were following their victory over the hated Yankees than were watching the confrontation in New York between the major presidential candidates.

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