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Randy
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9/17/13: ECOtality files for bankrupcy and gets Nissan loan

Tue Sep 17, 2013 7:52 am

This morning, ECOtality filed for bankruptcy protection and also announced a $1.25M loan from Nissan spread over the next few weeks...

http://www.fool.com/quote/nasdaq/ecotal ... ec-filings

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TomT
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 8:07 am

I don't think 1.25 million is going to make much difference in the overall scheme of things...

Randy wrote:This morning, ECOtality filed for bankruptcy protection and also announced a $1.25M loan from Nissan spread over the next few weeks...
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 8:55 am

Positioning for an equity stake perhaps?
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 9:07 am

mwalsh wrote:Positioning for an equity stake perhaps?
Nissan may have no choice but to purchase, or more likely to broker a purchase of Ecotality. Their batteries are degrading faster than they expected - much worse than 70% remaining in 10 years. With Blink stations operating that only means that Leaf is slightly less convenient and more expensive to operate than it would be with better batteries. But if Blink stations were to close then a lot of Leafs would no longer be adequate, and dumped onto a resale market with no buyers the value would collapse. Then they wouldn't be able to sell new Leafs even if they did develop a longer lasting battery or add thermal management - the name would be ruined.

So I'll bet that Nissan will broker a deal sending Ecotality to Chargepoint or to evGo.

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Randy
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 9:16 am

There are certainly many creative possibilities that could emerge. What if Nissan bought the network and pulled a Tesla move to make charging free for Nissan LEAFs or other Nissan future EVs?

What a coup that would be to have the basis of a nationwide charging network for your brand....

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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 9:24 am

Randy wrote:There are certainly many creative possibilities that could emerge. What if Nissan bought the network and pulled a Tesla move to make charging free for Nissan LEAFs or other Nissan future EVs?

What a coup that would be to have the basis of a nationwide charging network for your brand....

That would be a very interesting idea. Or, maybe they could offer charging for Nissan EVs for real cheap?

Hopefully, Nissan would replace all the defective Rema handles and keep their network operating reliably...

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EVDRIVER
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 9:30 am

Hopefully they will fire all the management first and then go from there.

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TomT
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 9:53 am

L2 is not really going to help balance that equation much. It is simply too slow, even with a 6kw charger... And at a buck an hour, too expensive. L3 is far more practical, IMHO.

walterbays wrote:Nissan may have no choice but to purchase, or more likely to broker a purchase of Ecotality. Their batteries are degrading faster than they expected - much worse than 70% remaining in 10 years. With Blink stations operating that only means that Leaf is slightly less convenient and more expensive to operate than it would be with better batteries.
Last edited by TomT on Tue Sep 17, 2013 11:48 am, edited 1 time in total.
59,991 miles/12 bars/289 Gids/68.54 AHr/101% SOH/101.64% Hx 7May15 w/ new Lizard (barely made the warranty).
71,770 miles/12 bars/256 Gids/59.04 AHr/88% SOH/87.92% Hx 3Mar16 at lease return.

Now driving a 2016 Volt Premier. Model 3 reserved.

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drees
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 10:08 am

$1.25M won't last long - it may get them a couple months - employee compensation on their last quarterly report is about $1.2M / quarter (~$5M/year). Of course, considering that their damn executives suck up about a third of that (at least it did in 2011 - first data I was able to pull up - anyone able to pull up more recent data?) getting rid of those guys first would make a huge improvement in their bottom line.
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Re: 9/17/13: ECOtality files for bankrupcy and gets Nissan l

Tue Sep 17, 2013 10:12 am

Nissan didn't "loan" the money without expecting a VERY favorable outcome for themselves in bankruptcy.

The smart money is a Tesla like plan. They could replace all the DC chargers with the Sumitomo units, and even smarter would be to make the Sumitomos have communication between each other so that they can have a 62.5kW max combined power draw (what the Blink units have), and place two Sumitomo units at every Blink site that is rational. Abandon the silly sites that are locked behind fences, are not open 24 hours, etc.

The sky is the limit, but I fear a less than ambitious outcome.

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