Tuesday, March 25, 2014

[Electric Boats] Balqon possibly seeking bankruptcy protection?

 

I was talking to an EV friend this week and mentioned I was planning on ordering 16 100ah cells from balqon once they received their new stock. He then mentioned that they may be going bankrupt and that some lists were talking about non-fulfilled orders.

http://insideevs.com/balqons-latest-financial-report-hints-at-possible-bankruptcy-interview-with-balqon-ceo-balwinder-samra-video/

So, what is this list's recent experience with them?
I think it would be a shame if they disappeared since the Winston cells they offer have a decent reputation and their price was/is certainly reasonable.

Mind you, their profitability (or lack thereof) seems to be because of lower sales than predicted of their drive system, and the above article does mention that their battery sales are doing ok and are the current revenue generator for them.

If a representative from Balqon frequents this list, I for one would like to hear a statement from them as to their immediate future and ability to deliver product for our smaller scale sales.

/Jason

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