Monday, February 6, 2012
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Buick’s eAssist gives LaCrosse an economical boost By Terry Box The Dallas Morning News
Buffed-up Buick must figure it finally washed all the gray from its lineup. I understand — appearances aside. U lt ra - c ontempora r y Bufords like the Enclave crossover and the sleek LaCrosse and Regal sedans don’t seem to contain a single gene from an old torque-monster Gran Sport or a Wildcat 455 or even a ‘65 Riviera. But the 2012 LaCrosse with eAssist — an economical four-cylinder sedan boosted occasionally by a small electric motor — may stretch Buick’s new stovepipe jeans a bit. My first thought when I heard the name was: “It comes with a home scooter?” So if I overshoot the parking lot at the Twilight Palms Retirement Home and bag one of the fake Greco fountains out front, I can just pry my scooter out of the wreckage and quietly putter unnoticed to my room? Probably not. Despite its geriatric-sounding name, eAssist is a mild hybrid system that maintains a real six-speed automatic transmission and doesn’t rely on large, heavy battery packs. And yes, I can hear the sneers from Prius purists. But get this: A LaCrosse with the four-banger and eAssist costs about $1,300 more than the base four-cylinder LaCrosse did and is rated at 25 miles per gallon city and 36 highway — a 28 percent improvement in fuel economy. While I would rather work as a hippety-hoppity music DJ than drive most hybrids
daily — just call me LL Cool Box — the LaCrosse struck me as a pretty darn good value. And much of the time, it is, though with some unexpected irritations that I’ll tell you about in a minute. The carbon-black LaCrosse I had recently looked generally like one of the stylish V-6-powered models. A sloping hood flowed gracefully into a raked-back windshield and curvaceous top — strong lines for a car known previously as an over60s sedan. The doors were enormous, and the LaCrosse would probably be as slab-sided as a senior recreation center if not for some clever character lines on the side. The best one zips over the front door handle before kicking dramatically over the rear handle, putting a meaty little shoulder over the back wheel. Speaking of which, I didn’t care much for my car’s smallish 235/50 tires on 17-inch wheels because they gave it a kind of green-weenie look — and it’s really not. But you still get a decent Buick interior, which most of us expect in a sedan with a $36,880 sticker on the back window. As you might guess looking at the doors on the LaCrosse, leg- and headroom in back rival those in some cabs. Moreover, the black interior in mine was nicely detailed. The plastic on the dash, for instance, looked kind of like black leather, complete with white stitching on its edges. The hood over the instrument panel was padded, as were the armrests on the
door panels — made of the same leather-looking plastic as the dash. A large center stack dominated much of the dash, and black leather seats with flat-toned surfaces and subtle stitched seams looked classy. But you can find that sort of content on any mid-level LaCrosse. What makes this car kind of special is its 2.4-liter, 182-horsepower four-cylinder engine paired with a 15-horse electric motor. A small box containing lithium-ion batteries is mounted in the trunk behind the back seat, consuming about two cubic feet of space, See BUICK, Page 2
The 2012 Buick LaCrosse eAssist is a mild hybrid system that maintains a real six-speed automatic transmission. GM/MCT phoTos
Page 2 / Monday, February 6, 2012
Tallahassee Democrat / OnTheMOve
Chrysler, other US automakers post strong January numbers By Jerry Hirsch Los Angeles Times
LOS A NGEL ES — Chrysler Group reported its first annual profit in years, and the U.S. auto industry displayed renewed vigor, posting January sales numbers that were the strongest for the month since 2008. Chrysler’s profit was a sign that the Detroit automaker is recovering from its bankruptcy reorganization and the conflicting strategies of its recent owners, analysts said. “It is great to see that the phoenix can come out of the ashes,” said Thilo Koslowski, an auto analyst at research firm Gartner Inc. “Chrysler has really changed its culture. The organization is much more empowered than it has been in the past, and it is coming out with exciting products.” Chrysler said Wednesday that it earned $183 million last year, compared with a loss of $652 million in 2010. Sales rose 31 percent to $55 billion. It was Chrysler’s first annual profit as an independent company since 1997. The automaker is riding a wave of growing auto sales that has caught the entire industry. Americans purchased more than 900,000 vehicles last month, an 11.4 percent increase over January 2010, according to Autodata Corp. “It is significant to see 900,000 in January when much of the country is in a deep freeze,” said Bob Carter, Toyota’s group vice president and general manager. “We are bullish on where the industry is going.” The volume translates into a seasonally adjusted annual sales pace of 14.2 million autos. With the exception of the federal cash-for-clunkers economic stimulus program in the middle of the reces-
sion, that rate was the best a comeback after some were since May 2008, according hurt by inventory shortagto auto information company es caused by the Japanese Edmunds.com. earthquake and tsunami last Auto executives said the year. The Asian brands held gradually improving econ- a market share of 45.8 peromy, stronger consumer cent in January, their best confidence and the need to since March, when they had replace an aging U.S. fleet, 48.5 percent, Edmunds.com where the average vehicle reported. is now about 11 years old, “The domestics are in for contributed to the industry’s a fight in 2012,” said Jessistrength. ca Caldwell, an Edmunds Although there’s still analyst. volatility in the economic Of the major automakers, news, “in general, it is much only GM posted lower Janumore positive than it was six ary sales, falling 6.1 percent. months ago,” said Don John- While the results at Chevroson, U.S. sales vice presi- let, its biggest brand, were dent at General just below level, sales Motors Co. Chrysler looks But Hyundai fell at Buick, to be solidifyMotor AmeriCadillac and ca’s chief exec- ing its position in GMC. utive issued a Sergio the U.S. market Marchio more cautious view. after more than a nne, chief “Although of decade of chang- executive total industry Chrysler and sales looked ing owners with Fiat, the Italst rong, ou r ian automakvaried business sense is that er that owns much of the strategies. 58.5 percent gain came of Chrysler, from the fleet sales,” said said competition will only Hyundai’s John Krafcik. get tougher. Such sales to rental car com“Nobody is falling asleep panies, commercial custom- at the switch here,” Marchioers and government agencies nne said. are typically less profitable Since emerging from b a n k r u p t c y i n 2 0 0 9, than sales to consumers. Many automakers posted Chrysler has introduced new double-digit sales gains. models and merged developChrysler’s January sales ment operations with Fiat. were 44.3 percent above the A health care fund, known same month in the prior year, as the VEBA trust, operated Autodata said. Volkswagen by the United Autoworkers Group was up 39.5 percent. Union owns the remainder It was VW’s best January of Chrysler’s shares. in 38 years. Nissan North Helped by a memorable America sales rose 10.4 per- “Imported From Detroit” cent; Hyundai climbed 14.7 advertising campaign percent; Kia Motors America launched during the Super jumped 27.8 percent; Subaru Bowl last year, Chrysler sold of America, 20.9 percent. 1.4 million vehicles in the Among the top five in U.S. last year, a 26 percent sales, Ford Motor Co. sales increase over the previous rose 7.3 percent. Toyota year. Its share of the U.S. Motor Corp. sales rose 7.5 market grew to 10.7 perpercent. Honda Motor Co. cent, up more than a perrose 8.8 percent. centage point, according Asian brands are making to Autodata.
The rebirth of the Dodge Dart is one example of Chrysler’s changed culture, Gartner analyst Koslowski said. The 2013 model of the Dart will be the first Chrysler vehicle based on Fiat architecture, in this case the Alfa Romeo Giulietta. It will be produced at Chrysler’s assembly plant in Belvidere, Ill. Chrysler looks to be solidifying its position in the U.S. market after more than a decade of changing owners with varied business strategies. Daimler, the owner of Mercedes-Benz, acquired Chrysler in 1998 but was unable to integrate the American company into its global operations profitably. The deal was billed as a “merger of equals,” but the German automaker called the shots, selling Chrysler to Cerberus Capital Management in 2007. But Cerberus quickly ran into problems and lost control of the business during the 2009 bankruptcy reorganization and federal government bailout. Marchionne’s strong leadership was “something that was sorely lacking while Cerberus was in control of the company,” said Alec Gutierrez, an analyst at auto information company Kelley Blue Book. Cerberus, he said, primarily focused on cost cutting. For the fourth quarter, Chrysler reported net income of $225 million, a swing from a loss of $199 million for the year-earlier period. It was the company’s highest quarterly profit since it emerged from bankruptcy in 2009. Quarterly sales rose 41 percent to $15.1 billion. The company also is building up its cash on hand. Chrysler had $9.6 billion at year-end, up from $7.3 billion a year earlier.
GM/MCT
The 2012 Buick LaCrosse eAssist is a mild hybrid system that maintains a real six-speed automatic transmission.
Buick From Page 1
GM says. It powers an electric motor/generator that is mounted where you normally find a conventional alternator. When summoned to action, it provides a little extra grunt and torque for the gas engine. Automatic start/stop shuts the engine off when you’re at full rest, and the motor/generator helps get the car rolling again, as well as offering some extra shove in passing situations. It also recharges the batteries. At least, that’s how it all works on paper. With spin from the electric motor — rated at 110 pound-feet of torque — the four-banger under the hood feels smooth and reasonably torquey, revving pretty willingly to 6,500 rpm. It doesn’t offer much surge — and virtually no snap — but green Robin and Batman will push the LaCrosse to 60 in 9.2 seconds, which is OK for a kind-of hybrid. But I struggled some with the car’s bad coasting behavior. When I let off the accelerator and the LaCrosse’s torque converter apparently locked, the car was jolted as the speed dropped below 20 mph. It happened consistently, ranging from a shudder to a sharp bump. But no matter the intensity, it was as irritating as talk radio — especially mired in the Dallas North Crawlway’s bumperto-bumper traffic. My car was an early model that probably lacked some
polish and refinement, or it might have just contained a gremlin. Either way, I might spend some time on a test drive before buying an eAssist vehicle. Otherwise, the Buick performed fairly well. It stepped over bumps with surprising Euro firmness and turned nicely into curves. Though limited by its e c o no - sp e c t i r e s , t he LaCrosse offered fairly lively steering, feeling light and quick when I was putting around and growing heavier at speed. It was a mostly pleasant vehicle with huge potential. And if I absolutely must drive some sort of hybrid to my weekend DJ job in the foreboding, not-so-distant future, please give me one that is still more car than science experiment. 2012 BUICK LACROSSE: n Type of vehicle: Frontwheel-drive, five-passenger, four-door sedan n Base price (including destination charge): $30,170 n Price as tested: $36,880 n Fuel economy: 25 miles per gallon city, 36 highway n Weight: 3,850 pounds n Engine: 2.4-liter four-cylinder with 182 horsepower and 172 pound-feet of torque, plus a 15-horsepower electric motor with 110 pound-feet of torque n Transmission: Six-speed automatic n Performance: 0 to 60 mph in 9.2 seconds n Safety rating: Five stars for driver and passenger for frontal crash; five-star front and four-star rear for side crash; four stars for rollover —SOURCES: General Motors; Motor Trend
TD-0000198207
OnTheMOve / Tallahassee Democrat
Monday, February 6, 2012 / Page 3
Page 4 / Monday, February 6, 2012
Tallahassee Democrat / OnTheMOve
Squealing noise a warning from brakes
Indiana’s electricvehicle bust By Julie Wernau Chicago Tribune
ELKHART, Ind. — For politicians betting on electric vehicles to drive job growth, the view from inside Think City’s plant here is their worst nightmare: 100 unfinished vehicles lined up with no word whether they will be completed. Only two years ago the tiny Think cars — two can fit in a regular parking space — were expected to bring more than 400 jobs to this ailing city and act as a lifeline to suppliers who once made parts for gas-guzzling recreational vehicles. “We’ve said we’re out to make Indiana the electric vehicle state. It’s beginning to look like the state capital will be Elkhart County,” Indiana Gov. Mitch Daniels said in January 2010 in announcing government incentives used to lure Think to his state. Instead, the Hoosier state’s big bet has been a bust. The plant is devoid of activity; there are just two employees. A Russian investor who recently purchased Think’s bankrupt parent in Norway has been silent about its future. A government-backed Indianapolis battery maker that was to supply Think wrote off a $73 million investment in the car company and on Thursday declared bankruptcy. Two unrelated electric truck makers Indiana planned to nurture have yet to get off the ground. Indiana’s foray into electric vehicles is a cautionary tale for states in hot pursuit of high tech manufacturing jobs. Think’s story illustrates how politicians so badly wanted to stimulate job growth that they showered it and the battery supplier with tax breaks and incentives while at the same time failing to determine whether there was a market for the car: a plastic two-seater with a top speed of about 65 miles an hour
and a price tag approaching $42,000. “Where’s the value?” Gregg Fore, an Elkhart recreational vehicle industry executive, said of Think. “I could buy a golf cart for five grand if that’s what I wanted to drive.” Fore says the federal and state governments as well as Elkhart subsidized the Think project apparently believing those breaks would drive down the vehicle’s price and make the cars more attractive. “By giving money to the battery company and electric car company, they are saying, ‘We want you to buy their products even though we know you don’t want them.’ “ Indiana’s total losses aren’t immediately known. Katelyn Hancock, a spokeswoman for the Indiana Economic Development Corp., the state’s economic development arm, declined to disclose how much battery maker Ener1 and Think had received in taxpayer-funded credits and incentives, claiming such information is confidential. Ener1 also refused to provide the information. What is known, however, is that both the Obama and Bush administrations poured millions of dollars into battery production in a quest to power thousands of Think City vehicles with lithium-ion batteries. To date, Ener1, parent of the battery company, has spent $55 million in federal funding, according to the U.S. Department of Energy. In hindsight, some analysts say government backing of the car didn’t seem like a bad investment. “It looked like electric vehicles were it in 2008. It really did,” said Theodore O’Neill, an analyst who has followed the electric car industry. “You had the government calling the shots and doling the money out with the major (automakers).” Still, O’Neill says he wouldn’t buy such a car. “For
Monday, February 6, 2012 / Page 5
OnTheMOve / Tallahassee Democrat
By Brad Bergholdt McClatchy-Tribune News Service
QUESTION: I’ve begun hearing a faint squealing noise from my car — in the front, I think. It increases as I speed up and sometimes goes away if I use the brakes. With the holidays, this isn’t the best time for a car repair. Is it important that I fix this right away? —Doreen H. ANSWER: There’s a good chance the noise you’ve so nicely described is a brake-pad wear sensor beginning to sound off. These are little metal tabs attached to the inner brake pad that come into contact with the brake rotor when
Michael Tercha/chicago Tribune
Th!nk City electric cars await additional assembly at the plant in Elkhart, Ind., on Jan. 10. $40,000, you can get a certified pre-owned BMW convertible and a Vespa scooter. Both of them. And if you want to have a good time, put the top down.” General Motors’ Chevrolet Volt electric car also comes for about the same price. Think City’s plant, a 10-minute drive from Elkhart’s Main Street, appears all but abandoned these days. When a reporter visited recently, the parking lot was empty and the visitor entrance and lobby were laced with cobwebs. A single pickup truck and a sign telling visitors to ring the buzzer were the only signs of life near the rear of the building. Inside two men were quietly babysitting the plant, awaiting headlights and seatbelts from Europe so the cars would meet U.S. standards. What eventually happens to these cars isn’t clear. No one in Elkhart could point to a local executive in charge of production. A person identified as a spokesman declined to comment, saying he was no longer on the payroll.
The person who may have the most to say about Think’s future also isn’t talking. Russian investor Boris Zingarevich bought Think Global, the Norwegian parent company, at auction a month after its bankruptcy. Reached by phone in Russia, Slava Bychkov, a spokesman for Ilim Group, said he could not provide details of the car company’s future. “The management is now under the restart process and will communicate their strategy in (the) near future,” Bychkov said. The situation is a far cry from what was envisioned in 2009: a bustling plant building cars that would be part of the American dream of a gasoline-free future. Every level of government, from the city to the state to the federal government, bought into the dream by pledging millions of dollars in incentives and tax breaks to Think, which promised to build those cars. In the two years that followed, Daniels announced deals across the state that he said would bring electric
vehicle-related employment: 1,600 jobs in Elkhart County for hybrid pick-up trucks, 300 jobs in Central Indiana for plug-in hybrid work trucks. The truck ventures have yet to get off the ground. Ener1, the battery supplier to Think with three locations in Indiana, envisioned creating 1,400 jobs; Think itself was supposed to create 415 jobs in Indiana. Vice President Joe Biden seized on the excitement over Think, posing a year ago beside a car to promote the battery company. He heralded the battery maker as one of “100 Recovery Act Projects changing America,” putting people back to work and helping transform the economy. President Barack Obama swooped into Elkhart three times, turning the battered city into a poster child for an economy in need of government intervention. Unemployment had topped 20 percent as the recreational vehicle industry, which during its peak employed as many as 50,000 people in Elkhart
County, had nose-dived and failed to recover. That Think City had set up shop in a massive building where RV windows and doors were once manufactured was seen as a sign of rebirth. Everyone involved apparently became so jazzed about jobs that they didn’t spend much time thinking about who would buy Think cars. “I would get knots in my stomach. What are we going to do? Your heart ached because you knew how hungry they were for jobs,” said Dorinda Heiden-Guss, president of the Economic Development Corporation of Elkhart County. Barkley Garrett, Elkhart’s economic development director, said, “You have to look at it in the context of dealing with almost 20 percent unemployment. When you have one out of every five people in your community out of work — every job looks like a good job.” Morever, Think City fit neatly into Elkhart’s goal of attracting technology compaSee BUST, Page 6
the pad’s friction material wears thin. While the nail on a blackboard sound will become increasingly annoying and embarrassing with further driving, the early warning of worn brake pads can head off some expensive damage. If a brake pad loses most or all of its friction material, its steel backing and/or the rivets attaching the friction material will cause severe damage to the brake rotor, along with decreased stopping ability. Audible wear sensors are found on some but not all brake pads. Higher-end vehicles typically use an electrical sensor that illuminates a warning light
Under the hood when pad thickness significantly decreases, rather than subjecting the driver to an awkward sound. This probe-type of wear sensor requires replacement after activation for about $10$40 apiece. Other warning light-type sensors are embedded within the brake pad, making replacement more straightforward. A tab-type sensor can make noise in the way you described because brake pads ride just a hair away from the brake rotor, and flexing of both parts while
driving or braking can cause intermittent contact. As your pads wear further, the noise will become louder and more continuous, to the point you won’t want to drive the car. The good news is you still have perhaps a month of driving remaining before this happens, and at least several more months of unimpaired brake operation. If you’re considering a brief delay in having the brakes looked at, I’d feel better knowing the cause was in fact a wear sensor rather than something else that may require more immediate attention. Many wheels have sufficiently large gaps between
the spokes to allow a nice view of the brake caliper and rotor. If so, the edge of the outer brake pad is usually visible if the wheel is rotated just right. Thickness of the friction material on a new brake pad is a bit greater than that of a pencil. If you see it’s less than one-third of this dimension, or if the gap between the pad’s metal backing and the rotor if the friction material isn’t visible, there’s a good chance a wear sensor is signaling or will be soon. Inner brake pads typically wear at a slightly greater rate than the outers, so a sort-of-thin outer pad means it’s time for brakes now.
NOTE: I received several reader inquiries regarding where to purchase brake fluid test strips. The strips I recommended are made by Phoenix Systems and are available in two quantities: a sample pack containing two for about $10 and a tube of 100 for about $67. You can find them at Walmart.com, eBay.com or Phoenix Systems’s own website, http://www.phoenixsystem.com. — Brad Bergholdt is an automotive technology instructor at Evergreen Valley College in San Jose, Calif. Readers may send him email at under-thehoodearthlink.net; he cannot make personal replies.
Chrysler to add 1,800 jobs at crucial Illinois plant By Brent Snavely Detroit Free Press
BE LV I DE R E , I l l . — Chrysler has announced that it plans to add 1,800 jobs at its Belvidere Assembly Plant to build the Dodge Dart this year. “ Yo u a r e t h e n e w Chrysler,” Fiat and Chrysler CEO Sergio Marchionne told workers gathered at the plant to hear the announcement. Previously, Chrysler said it would add 400 to 500 workers to two existing shifts, but
this most recent announcement is the first time the company released the total employment number. About 2,700 now work at the plant, assembling the Jeep Compass and Jeep Patriot. When the workers are added, it will be the first time since 2008 that the plant will operate three shifts. Marchionne said that the company’s Belvidere plant is one of the most productive of all Fiat and Chrysler plants. It ranked third out of 34 plants among many
manufacturers in a recent study, Marchionne said, and is being used as a benchmark for Fiat’s plants in Europe. “The truth is that you are working in a plant that is an example of the kind of mosaics that we are working to create,” Marchionne said. The Auburn Hills, Mich., automaker also recently spent $600 million to build a new 638,000-square-foot body shop here. “This significant investment ... will ensure this tre-
mendous job engine for the Rock River Valley will be utilized for many years to come,” U.S. Rep. Don Manzullo, R-Illinois, said in a statement. Chrysler’s Belvidere plant, which opened in 1965, has long been a cornerstone of the Belvidere and Rockford communities. In the early 1970s, the large Chrysler Newport sedan was assembled here. But in the late 1970s, the plant was transformed so it could build the smaller and
more fuel-efficient Dodge Omni and Plymouth Horizon. From 1994 to 2005, it built the Dodge Neon. From 2005 until 2011, the compact Dodge Caliber was produced here. Production of the Caliber ended in December. Now, the plant’s future is resting on the success of the Dodge Dart, arguably the most important new car Chrysler has launched since it emerged from Chapter 11 bankruptcy. The compact sedan is
expected to be the first credible small car for any Chrysler brand in years. Chrysler discontinued the Dodge Neon in 2005. It also is the first car to combine Fiat and Chrysler technology, and is built on a widened and lengthened version of the Alfa Romeo Giulietta. The Dart was revealed at the 2012 North American International Auto Show in Detroit last month and is scheduled to go on sale this spring.
Lexus reveals LF-LC sports coupe, signaling a new direction By Katherine Yung Detroit Free Press
DETROIT — Lexus on Monday unveiled its LF-LC hybrid sports coupe, a concept vehicle that signals a new design direction for the luxury brand. The rear-wheeldrive coupe was designed in
America at Toyota’s Calty design studio in Newport Beach, Calif. “This is more than just a new car for us,” Mark Templin, vice president of the Lexus division told a packed ballroom of journalists at Cobo Center. “It signals the start of something big.”
He said Lexus is embarking on the third phase of its development, creating inspirational and emotional products, after first launching its brand in 1989 and then expanding its vehicle lineup. Lexus gave up its luxury sales crown last year to BMW due to product shortages resulting
from last year’s earthquake and tsunami. But in 2012, Toyota’s luxury nameplate will be bringing out nine new or updated vehicles. “Lexus will grow more than any luxury brand in the industry,” Templin declared, describing the brand’s new direction as a “transforma-
tion” and “design revolution.” The LF-LC will use Lexus’ next-generation hybrid powertrain. The coupe has long, flowing lines and a glass roof. Its tail lamps were inspired by a jet plane’s afterburners. The car’s interior is chockfull of touch screens to control
everything from the windows and doors to entertainment features. The coupe also features a tech board, which Templin described as a tilt-up iPad built into the console. Lexus also introduced an update of its LX full-size SUV, which goes on sale later this year.
Page 6 / Monday, February 6, 2012
Tallahassee Democrat / OnTheMOve
BUST From Page 4
nies, Garrett said. It seemed to make sense. “The diversification was great. The number of jobs, the amount of investment,” Garrett added. Think was to have 415 workers by 2013. By the end of 2011, it was projected to produce 2,500 vehicles with the potential to build 60,000 cars a year. The concept worked like this: The first cars were produced in Europe, then shipped to Elkhart where seatbelts and headlights would be replaced to meet U.S. standards. Ultimately, the entire car was to be produced in the Midwest. Think’s future looked bright in December 2010. Daniels proudly accepted the first 15 Think vehicles at a news conference at Fort Harrison State Park, to be used by the Department of Natural Resources, thanks to federal tax incentives and a $5 million grant from the federal government. But it didn’t take long for things to start to unravel. The vehicle launched in the U.S. at the end of 2010 with a sticker price of $41,695, about $8,000 above Think’s previously announced target price. As a result, sales were a fraction of what had been projected. At its height, Think City’s plant only employed 25 people. And most of the 200 or so vehicles Think City sold in the U.S. were to government fleets, sweetened by government subsidies. Recalls added to Think’s woes. The first, in January 2011, was related to improperly installed seat belts. A month later, a recall involved defective defroster systems. Finally, the National Highway Traffic Safety Administration determined the car had a tendency to slip out of the park position. The recalls occurred just as a $5 million loan from battery partner Ener1 was coming due. When Think couldn’t pay, battery company Ener1 lent an additional $10 million to keep the car company afloat because it needed a
Michael Tercha/chicago Tribune
The two remaining employees, supervisor Rodney Smith, left, and mechanic Josh Medford, convert a Th!nk City electric car to U.S. standards at the closed plant in Elkhart, Ind., on Jan. 10. buyer for its batteries. In May 2011, Ener1 wrote off its $73 million stake in Think. The following month, Think Global filed for bankruptcy in Norway listing $32 million it owed Ener1. The bankruptcy marked Think’s fourth trip through bankruptcy court, and the ramifications for Ener1 were profound. The recipient of a $118.5 million Department of Energy grant saw its shares tumble to pennies and its shares delisted from the Nasdaq Stock Exchange. Shareholders sued, claiming management hadn’t flagged the severity of Think’s financial woes when they decided to invest in the battery maker. On Thursday, Ener1 itself filed for bankruptcy in New York. About 275 Indiana
The first recall, in January 2011, was related to improperly installed seat belts. A month later, a recall involved defective defroster systems. Finally, the National Highway Traffic Safety Administration determined the car had a tendency to slip out of the park position. employees are expected to continue with the company as it restructures through a pre-packaged bankruptcy, the U.S. Energy Department said Thursday. The company will receive $81 million in private capital, DOE spokesperson Jen Stutsman said. That investment, she said, “demonstrates that the (battery) technology has merit.” For now, a plan to invest
$237 million in a third Ener1 facility in Indiana in Mt. Comfort — expected to produce enough batteries for 60,000 electric cars — is on hold. Brian Sinderson, a spokesman for the battery company, said it plans to continue to provide batteries to customers in the electric grid, transportation and industrial markets and intends to fulfill its commitments to the grants and incentives it has
been awarded. In its most recent report as a recipient of the Recovery Act, Ener1 had spent $55 million of its 50/50 cost sharing grant. . With the bankruptcies of the battery maker and Think, the future of both will be determined in Russia. Zingarevich — who filings show owns 47.3 percent of shares in Ener1 — signed a memorandum of understanding with Ener1 to cooperate in relaunching Think. Ener1 filed for Chapter 11 bankruptcy protection with about $91 million in debt outstanding. The company is asking a judge to sign off on a pre-packaged deal that would cut the debt in half and repay current note holders with new equity in a reorganized company. The plan would infuse Ener1 with $81 in new capital.
Zingarevich would be solely responsible for $50 million, including a $20 million postpetition credit line. He and a group of noteholders would team up to provide the rest, and he would end up a large holder of preferred stock in the company. Zingarevich, founder of llim Group, one of Russia’s largest timber companies, renamed Think, which is now Electric Mobility Solutions and said in a press release that a new version of the automobile would launch in the first quarter of this year. Michael Lew, an analyst who has followed Ener1 and Think, said no one is clear what the plan is for the future of the two companies. “There’s always hope,” he said. “But you need to know what exactly the plan is.”
Monday, February 6, 2012 / Page 7
OnTheMOve / Tallahassee Democrat
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1-888-700-0213
Champion Chevrolet
$16,995
1-888-700-0213
Champion Chevrolet
$17,995
1-888-700-0213
$17,995
Champion Chevrolet
1-888-700-0213
‘08 CHEVROLET Equinox
‘07 MITSUBISHI Outlander
‘07 NISSAN Armada
‘10 SUZUKI SX4
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Cruise.
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Cruise.
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Cruise.
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, PS.
$18,995
1-888-700-0213
Champion Chevrolet
$18,995
1-888-700-0213
Champion Chevrolet
$19,995
1-888-700-0213
$19,995
Champion Chevrolet
1-888-700-0213
‘12 CHEVROLET Cruze
‘09 CHRYSLER Town & Country
‘10 CHEVROLET Traverse
‘08 TOYOTA Sienna
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Cruise.
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Cruise, PS.
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Cruise.
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Cruise.
$21,995
1-888-700-0213
Champion Chevrolet
$23,995
1-888-700-0213
Champion Chevrolet
$24,995
1-888-700-0213
$24,999
Champion Chevrolet
1-888-700-0213
‘10 CADILLAC DTS
‘10 ACURA TSX
‘08 BMW Other
‘10 TOYOTA Tundra
A/C, Tilt Wheel, CD Player, AM/FM Radio, PW, Leather Upholstery, Cruise.
A/C, Split Folding Rear Seat, Tilt Wheel, Pwr Moonroof, CD Player, AM/FM Radio, PW.
A/C, Split Folding Rear Seat, Tilt Wheel, Pwr Moonroof, CD Player, AM/FM Radio, PW.
A/C, Split Folding Rear Seat, Tilt Wheel, CD Player, AM/FM Radio, PW, Leather Upholstery.
$25,995
1-888-700-0213
Champion Chevrolet
$26,995
1-888-700-0213
Champion Chevrolet
$27,995
1-888-700-0213
Champion Chevrolet
Tremendous selection of quality, certified GM vehicles to choose from!
TD-0000198206
$37,995
1-888-700-0213
www.championchevy.com • 888-700-0213
Page 8 / Monday, February 6, 2012
Tallahassee Democrat / OnTheMOve
www.kraftnissan.com Kraft Nissan
Kraft Nissan
Kraft Nissan
Kraft Nissan
Kraft Nissan
Kraft Nissan
‘02 DODGE Neon
‘01 BUICK Regal
‘02 GMC Envoy
‘97 FORD F-150
Tilt-Adjustable Steering Wheel, PS.
Tilt-Adjustable Steering Wheel, PW, Cruise, Spd-Proportional Power Steering.
Tilt-Adjustable Steering Wheel, PW, Cruise, PS.
PS.
$3,477
850-576-6171
Kraft Nissan
$5,777
850-576-6171
$5,997
Kraft Nissan
850-576-6171
$5,997
850-576-6171
‘06 KIA Spectra
‘07 DODGE Caliber
‘01 TOYOTA Camry
‘96 CHEVROLET Corvette
Tilt-Adjustable Steering Wheel, Spd-Proportional Power Steering.
Tilt-Adjustable Steering Wheel, PW, PS.
Tilt-Adjustable Steering Wheel, Spd-Proportional Power Steering.
Tilt-Adjustable Steering Wheel, PW, Cruise, PS.
$7,977
850-576-6171
Kraft Nissan
$8,995
850-576-6171
$8,997
Kraft Nissan
850-576-6171
Kraft Nissan
$8,997
850-576-6171
‘06 CHEVROLET Silverado 1500
‘05 TOYOTA Prius
‘10 NISSAN Versa
‘04 CHEVROLET Avalanche
Tilt-Adjustable Steering Wheel, PS.
Tilt-Adjustable Steering Wheel, PW, Cruise.
Tilt-Adjustable Steering Wheel.
Tilt-Adjustable Steering wheel, PW, Cruise, PS.
$9,977
850-576-6171
Kraft Nissan
$10,377
850-576-6171
$11,977
Kraft Nissan
850-576-6171
Kraft Nissan
$12,997
850-576-6171
‘07 SCION tC
‘08 FORD Fusion
‘07 NISSAN Murano
‘06 CHRYSLER Crossfire
Tilt-Adjustable Steering Wheel, PW, Cruise, PS.
Tilt And Telescopic Steering Wheel, PW, Cruise, Spd-Proportional Power Steering.
Tilt-Adjustable Steering Wheel, PW, Cruise, Spd-Proportional Power Steering.
PW, Cruise, PS.
$13,377
850-576-6171
Kraft Nissan
$13,377
850-576-6171
$13,977
Kraft Nissan
850-576-6171
Kraft Nissan
$14,997
850-576-6171
‘09 HONDA CR-V
‘06 NISSAN Murano
‘08 NISSAN Rogue
‘09 HONDA Accord
Tilt and Telescopic Steering Wheel, PW, Cruise, Spd-Proportional Power Steering.
Tilt-Adjustable Steering Wheel, PW, Cruise, Spd-Proportional Power Steering.
4 Clyinder, ABS, PW, PL, Cruise, Auto.
Tilt and Telescopic Steering Wheel, PW, Cruise, Spd-Proportional Power Steering.
$16,677
850-576-6171
Kraft Nissan
$16,977
850-576-6171
$16,997
Kraft Nissan
850-576-6171
Kraft Nissan
$16,997
850-576-6171
‘08 NISSAN Rogue
‘06 NISSAN 350Z
‘08 NISSAN Maxima
‘08 NISSAN 350Z
Tilt-Adjustable Steering Wheel, PW, Cruise.
Tilt-Adjustable Steering Wheel, PW, SpdProportional Power Steering.
Tilt and Telescopic Steering Wheel, PW, Cruise, Spd-Proportional Power Steering.
V6, 3.5 Liter ABS, Tilt, PW, PL, Cruise, Auto, 5-Spd w/Overdrive & Manual Mode.
$17,977
850-576-6171
Kraft Nissan
$17,977
850-576-6171
Kraft Nissan
850-576-6171
$18,977
850-576-6171
3 2 27 M a h a n D r i ve | Ta l l a h a s s e e, F L 3 2 3 0 3 TD-0000198208
Kraft Nissan
Kraft Nissan
$20,997
850-576-6171