The possible bankruptcy of Fisker Automotive Inc., which last week fired three-quarters of its workforce, is the latest blow to President Barack Obama’s goal of having 1 million electric vehicles on U.S. roads by 2015.
Lead was the biggest gainer of industrial metals on the London Metal Exchange as vehicle sales reports by Mazda Motor Corp. to Toyota Motor Corp. signaled growth in demand for the metal used in car batteries.
Renewable energy would be a cinch if the sun shone all day and if the wind blew as reliably as the Earth spins. They don't. And even when wind turbines and solar panels are able to harness them, the sun and wind might not produce power exactly when customers want it. Without storage, the excess energy is wasted.
A123 Systems Inc. , a maker of rechargeable auto batteries, will supply lithium-ion cells to SAIC Motor Corp. for use in an electric vehicle as the U.S. startup expands ties with China’s largest domestic carmaker.
Recylex SA, a Paris-based metals recycling company, sees “relatively good” demand for lead in Europe due to its use in car batteries and emergency power generators, said Yves Roche, the chief executive officer.