Paintless Dent Removal Illinois

Previously it was reported that SAIC and BYD would team up in China to put batteries in SAIC’s future hybrid vehicles, but now it seems that SAIC have turned to A123 to make their motors turn in a new range of public use vehicles:

From Reuters:

SAN FRANCISCO/HONG KONG, Dec 17 (Reuters) – Lithium-ion battery maker A123 Systems Inc (AONE.O) said on Thursday it is forming a joint venture with China’s top carmaker SAIC Motor Corp (600104.SS) to sell battery systems for electric vehicles in the world’s largest automotive market.

A123’s joint venture with SAIC would build complete vehicle traction battery systems for hybrid electric, pure electric passenger vehicles, and heavy-duty truck and buses in China.

“This is a major commitment to the Chinese market,” said Jason Forcier, who leads A123’s automotive division, in an interview. “We are looking to be basically the market leader in China, both in the truck and passenger car market.”

Following the news of the announcement, shares of the Watertown, Massachusetts-based company, which debuted on the Nasdaq stock exchange in September, closed up 6 percent at $19.40.

The venture, called Shanghai Advanced Traction Battery Systems Co, would be owned 51 percent by SAIC and 49 percent by A123 Systems, according to the companies.

Forcier said the Chinese bus market was an attractive segment for the company in the short term, given the government support for electricity-powered buses.

The passenger car market was much more lucrative in the long term, he added.

Forcier said A123 Systems is expanding its presence in Europe and in discussions with companies in India.

A123, which won a $249.1 million grant in August from the U.S. Department of Energy, will start production at its first U.S. battery plant in mid-2010.

The automotive market for lithium-ion batteries, mostly found in mobile phones and computer laptops, is projected to be $32 million in 2009 but is expected to skyrocket to $22 billion in 2015, according to A123’s prospectus.

Every major global automaker has plans to bring electric vehicles to the market in the next two to three years.

Forcier said bringing down the cost of battery systems is the major challenge going forward.

“Cost is the real driver in this market,” Forcier said, adding that he is confident A123 will be successful in bringing down the cost of batteries by as much as 35 percent in the next few years.

Analysts estimate that cost of battery systems for electric vehicles or plug-in hybrids can range from about $8,000 to $15,000.

A123, founded by scientists linked to the Massachusetts Institute of Technology (MIT), is currently working with German luxury carmakers BMW and Daimler, U.S. automaker Chrysler and France-based Renault. It also has relationships with suppliers like Delphi and Magna Steyr.

The new venture of A123 with SAIC has been awarded a contract to supply battery systems for SAIC’s plug-in hybrid vehicle program.

SAIC had plans for a hybrid Roewe 750 sedan and a plug-in hybrid version of the Roewe 550, which could cut fuel consumption by 20 percent and 50 percent respectively. Both models would utilize A123 battery cells.

The Chinese carmaker planned to launch electric vehicles for sale in 2012.

The MG6 is probably the last good car launch of 2009, we managed to get hold of one prior to the official launch date on December 22nd:

According to Reuters:

SHANGHAI, Dec 17 (Reuters) – Zhejiang Geely Holding Group, a preferred bidder for Ford Motor’s (F.N) Volvo car unit, said on Thursday it had signed up Johnson Controls (JCI.N) as its global auto parts supplier.

Under the agreement, the two sides will also cooperate in the clean energy sector, it said in a statement, without elaborating.

Over the past three years, Geely, mostly a low-price player has dropped 385 companies from its pool of suppliers as it moved to raise its profile, it said.

It aims to strengthen its supplier network with 40 core suppliers in the next 3 years, the statement added.

Sources told Reuters on Wednesday that Geely, parent of Geely Automobile Holdings (0175.HK), aims to complete its acquisition of Volvo in early 2010 and has hired big-name consultants, including Roland Berger Strategy Consultants, to help streamline its operations. [ID:nTOE58F03S]

The Volvo deal is also backed by Beijing, which has been encouraging cross-border acquisitions by China Inc, amid a global recession.

“Our policy is to provide support to Chinese firms seeking overseas mergers and acquisitions,” Yao Jian, a spokesman of China’s commerce ministry, told reporters on Wednesay.

At least three major Chinese banks, including Bank of China (3988.HK) (601988.SS), China Construction Bank (0939.HK) (601939.SS) and Export-Import Bank of China, had agreed to extend loans to Geely for the Volvo deal, sources said earlier this month

Are we going to start to see a squeeze on JV vehicles in the future:

SHANGHAI, Dec 16 (Reuters) – China wants half of passenger cars, including sport utility vehicles, sold to be self-developed by 2015, state media said on Wednesday, up from 44 percent now, as part of a push to build up its own auto industry.

Chinese automaker’s own-brand sedans should account for a 40 percent share of the market, according to revised guidelines for the auto industry, the Shanghai Securities News said, citing unamed sources.

Sales of SAIC Motor Corp’s Roewe and other indigenous sedans came to 1.95 million units in the first 11 months, accounting for 29 percent of overall sedan sales, official data showed.

The guidelines, expected to be released in the first half of 2010, also called for Chinese companies to hold at least 50 percent of any newly-formed foreign venture producing green cars, batteries and key components, the newspaper said.

They also encouraged local automakers to recruit overseas talent, it said, without elaborating.

China’s auto market has been a major bright spot this year amid a steep global industry downturn thanks to Beijing’s policy initiatives which effectively bolstered consumer confidence.

Still, most Chinese automakers are either making foreign brand cars in tie-ups with firms such as General Motors, and Volkswagen AG, or focusing on the lower-end of the market.