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From the Oakland Press March 28, 2008 : http://www.theoaklandpress.com/
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General Motors Corp. is reportedly negotiating with Energy Conversion Devices and Chevron to purchase Orion Township-based battery maker Cobasys Inc.
GM spokesman Tom Wilkinson and ECD spokeswoman Trace Rettig declined to comment on the report.
However, other sources familiar with Cobasys, which is jointly owned by ECD and oil-giant Chevron, told The Oakland Press the negotiations for the sale are progressing and a deal could be completed soon.
ECD’s new management team and Chevron have been feuding over the future of Cobasys since last fall. It has left one of Oakland County’s leading high-tech companies on GM’s list of distressed suppliers at a time when the auto giant is attempting to step up production.
Cobasys supplies nickel metal hydride (NiMH) batteries used in GM vehicles, such as Saturn’s Vue and Aura, and the Chevrolet Malibu.
The acquisition would secure GM a source of the advanced NiMH batteries that are now being used to augment power in an array of hybrid vehicles. GM also purchases the batteries from a joint venture belonging to Toyota and Panasonic.
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