A joint venture between Henrik Fisker's new car company and an emerging battery supplier was unplugged before it could ever charge up.
Fisker Inc. and Nanotech Energy Inc. will not go forward with the JV called Fisker Nanotech to produce battery cells that use graphene for the forthcoming all-electric EMotion sedan, according to officials.
"In order to meet the timetable for Henrik Fisker, we would have had to just focus on that and that alone," Jack Kavanaugh, chairman and acting CEO of Nanotech Energy, who had been named to lead the joint venture, told Automotive News. "It wasn't right for us as a company to just focus on one thing."
The joint venture was announced in conjunction with Fisker announcing his new car company in October.
Fisker and Nanotech, a product of UCLA, remain in "friendly" discussions and could do more business together in the future, according to Kavanaugh. The car company, Fisker said, continues to "work with Nanotech on the applications of graphene," but it will use battery cells provided by LG Chem for the EMotion.
Kavanaugh said Nanotech is speaking with several companies -- both inside and outside automotive -- about bringing its battery technology to market, following independent testing beginning at the end of the summer.
"We're focusing on auto, computer, cell phone, solar, aerospace and other things having to do Internet, medical and power tool," he said. "They all have slightly different requirements."
Kavanaugh said using graphene, an extremely strong basic structural element, helps charge and discharge cells faster, while improving safety and range in a vehicle. It can be used for cells with or without lithium ion.