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Ecotality Auction Begins with Thousands of EV Chargers in the Balance

Plug-in vehicle charge provider Ecotality opened its bankruptcy auction yesterday, three weeks after formally filing for Chapter 11 protection. On Monday, the company was denied its request to delay the auction until next week. The process is now scheduled to end today, October 9, when a judge is expected to declare the winner of the auction.

The only known bid for Ecotality so far apparently comes from Tellus Power, a brand new Irvine, Calif.-based company that reportedly bid $3 million. Tellus has no functioning website and has left few traces on the internet prior to today.

Tellus is a subsidiary of Tusai Holdings, a company based in Hong Kong that describes itself as “a privately owned company of the Chinese middle class,” with “a wide-ranging portfolio that extends from capacitors, battery storage, supercapacitors to charging stations and solar technology.”

If Tellus Power emerges as the winner of the auction, it would put an end to rumors that Nissan had interest in taking over Ecotality. Last month, shortly after the company filed for bankruptcy protection, Nissan loaned Ecotality $1.25 million to keep it in operation until the auction. Currently there is no word on what Tellus’s plans might be for Ecotality, and the thousands of EV chargers it operates.
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