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A123 Rises After Fisker Says Most Recalled Plug-ins Fixed

Jan. 3 (Bloomberg) -- A123 Systems Inc., a maker of lithium-ion batteries for rechargeable vehicles, rose 22 percent after Fisker Automotive Inc. said most plug-in electric sports cars using A123 packs already have been fixed.

A123, based in Waltham, Massachusetts, gained 35 cents to $1.96 at the close in New York, after reaching an intraday high of $2.10.

Fisker, a closely held carmaker based in Anaheim, California, on Dec. 29 recalled 239 units of its luxury Karma sedan to fix a hose clamp in the A123 battery pack at risk of leaking coolant, potentially causing a fire. Repairs or inspections have been completed and “a majority” of cars are back in service after getting new packs, Fisker said yesterday.

“We decided that the immediate replacement of the battery pack in every vehicle was the right approach for all our customers,” Henrik Fisker, Fisker Automotive’s chief executive officer, said in a statement on the company’s website. “We identified the appropriate fix, made our retailers aware of the situation and began contacting all our customers within 48 hours.”

Fisker, whose Karma sedan retails for $102,000, had sent 225 of the cars to dealers and had 1,200 “in the pipeline,” Henrik Fisker said in a Dec. 21 interview.

To contact the reporter on this story: Alan Ohnsman in Los Angeles at aohnsman@bloomberg.net

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net

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