Bringing Electric Cars to the Mass Market - Part 3
Charles Gassenheimer thought this little lithium ion battery start-up would be a good investment for his hedge fund until it started losing money and came close to folding. At that point, he stepped in and persuaded the principal shareholder that he could better manage it and with his blessing, assumed the role of Chairman and CEO of the parent holding company, New York City-based Ener1.
Not only has the company now acquired controlling interest from Delphi of the EnerDel joint venture, but recently acquired Korea's third largest lithium ion cell manufacturer. The company now has a $70 million dollar contract to provide batteries for the Th!nk city electric car, and is working on other potential orders.
In his PowerPoint-illustrated presentation, Gassenheimer -- himself a UPenn alumni -- gives the MBA students attending the Net Impact panel on electric cars at the famed Wharton School a quick review of battery and electric car technology.
This is the third in this series of video segments from the Bringing Electric Cars to the Mass Market panel of expects.
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