Fisker idles Karma production while waiting for A123 auction
November 29, 2012
Fisker Automotive Inc said on Thursday that it has temporarily idled production of its Karma plug-in hybrid after its lithium-ion battery supplier A123 Systems Inc cut its output.
A123, which is the sole battery supplier for the Karma, slowed production after filing for Chapter 11 bankruptcy protection in October, Fisker spokesman Roger Ormisher said.
Fisker has enough lithium-ion batteries on hand in case an owner needs a replacement, Ormisher said. The company expects to have clarity on its battery inventory after December 6, when an auction to sell A123 is scheduled.
Auto parts suppliers Johnson Controls Inc and China's Wanxiang Group Corp are among the potential buyers who will square off to buy A123. Other companies that have expressed interest in A123 include NEC Corp of Japan and Siemens AG of Germany.
Full article at link.