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Recharge Wrap-up: NextEV raises $500M, A123 execs beat fraud claims

Scientists at Cardiff University's Catalysis Institute have developed a new method to improve biodiesel yields. Using a new catalytic process, the team is able to use the glycerol left over from biodiesel production and make more methanol to produce more biodiesel. Using magnesium oxide and cerium oxide is simpler than other methods, requiring only one step at room temperature with normal atmospheric pressure. "We set out to establish ways in which the waste product glycerol could be used to form other useful compounds, but we were surprised when we found that feeding glycerol and water over such a simple catalyst gave such valuable products and interesting chemistry," says Professor Stuart Taylor. The system could increase biodiesel yields by as much as 10 percent. Read more at Gizmag, or from Cardiff University. A federal judge has dismissed a lawsuit claiming A123 Systems hid problems with Fisker from investors. The plaintiffs accused four A123 executives of failing to report Fisker's impending bankruptcy and issues with battery quality. US District Judge Laura Taylor Swain says there is not enough evidence showing that the defendants knew about problems with their batteries or about Fisker's financial difficulties. Read more at Reuters, or at Law360. Chinese startup NextEV is raising funds to build a Tesla-fighting electric car. The company, which plans to launch a supercar to match the acceleration of Tesla's Ludicrous Mode next year, has raised about half of its $1 billion goal thanks in part to investments from Sequoia Capital and Joy Capital. NextEV also plans to produce mass market electric vehicles at about half the price of a Model S. "Talking big is pointless," says NextEV cofounder William Li. "We develop the car purely from the angle of consumers. We most value what they would like the car to be. We want them to experience sheer pleasure of driving our car." Read more at Bloomberg. Featured Gallery 2012 Fisker Karma: First Drive View 23 Photos Related Gallery News Source: Gizmag, Cardiff University, Law360, Reuters, BloombergImage Credit: Copyright 2015 Drew Phillips / AOL Earnings/Financials Green Fisker Automakers Tesla Biodiesel Green Automakers Electric recharge wrapup

New Fisker Karma will be pretty familiar

"It's all the same, only the names have changed," Jon Bon Jovi memorably sang, and it sure will apply to the next incarnation of the Fisker Karma. That's what the rumor mill says, anyway. A writer identified as JCMorrill on the Fisker forum Fisker Buzz says he (or she) has gotten some information by spending a "couple hours last week with the managers setting up the new factory." Anyone who liked the old Fisker Karma (perhaps not its creditors) will be pleased. That's because there doesn't seem to be a ton of changes in store for the extended-range plug-in hybrid, which is now known as Karma (China-based parent Wanxiang has ditched the "Fisker" badge, which remains attached to the coachbuilding company run by Henrik Fisker). The 2.0-liter powertrain will be the same, as will that 33-mile all-electric range and 240-mile total range. The company's not going to mess much with the sedan's sleek looks, either, according to the Tuesday post on Fisker Buzz. The brakes will actually be downgraded a tad, and the dash displays will be updated. There will be some driver-assist features added, including some braking and cruise-control features. Given that the new car will sport a price tag estimated to be $135,000, there better be. The Fisker Karma was last produced in 2012 before the company went bankrupt. Wanxiang acquired the company's assets in 2014. Rechristened Karma Automotive last year, the company has built a Southern California factory and could re-introduce the model as soon as some time later this year. Meanwhile, Mr. Fisker himself said earlier this year that he was teaming up with Bob Lutz and Gilbert Villarreal to re-imagine the Karma as a high-performance sedan powered by the 6.2-liter V8 Corvette ZR1 engine. The collaboration, called VLF Automotive, showed off the latest version of their alternative Karma at the Detroit Auto Show and said at the time that the car would retail for a cool $229,000. News Source: Fisker Buzz via Green Car Reports Green Rumormill Fisker Hybrid extended-range plug-in karma karma automotive

Fisker hires adviser to prepare for possible bankruptcy filing

Electric vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company has hired financial adviser FTI Consulting and the law firm Davis Polk to work on a potential bankruptcy filing, according to the report. Fisker declined to comment. According to CNN, Fisker's stock price fell more than 40% in after-hours trading after the report was published. Overall, the stock is down more than 80% since the start of 2024. Earlier this month, Fisker flagged going-concern risks, job cuts and a pause in investments into future projects until it secures a partnership with a manufacturer. Nissan was in advanced talks to invest in Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck, Reuters reported earlier this month, citing two people familiar with the negotiations.   Earnings/Financials Green Fisker