A123 Secures Supply Agreement with ALTe $AONE

Following the company’s recent deal with General Motors (GM), A123 Systems (AONE) has now secured a further ‘long-term’ supply agreement with ALTe, a developer of Range Extended Electric Powertrains used to repower light commercial vehicles.

AONE’s advanced Nanophosphate technology will be used to build 21.6 kWh battery packs, forming a critical part of ALTe’s powertrain.

“We selected A123 Systems as a primary supplier of lithium ion battery technology because the company’s cost-competitive, high-quality solutions meet the rigorous performance, safety and durability needs of our powertrain platform,” said ALTe CEO John Thomas. “With A123’s battery packs as an integral part of our systems, we will be able to provide a compelling hybrid retrofit solution that can exceed both the power and efficiency demands of the fleet market.”

You can read ALTe’s press statement on the deal here.
A123 Systems has received a lot of deal attention recently:
  • The company’s stock rose over 40% on the announcement of a deal with GM – more here and here.
  • However, there may have been some disappointment at AONE over GM’s later announcement of the strengthening of the company’s collaboration with LG Group – more here.
Today’s deal with ALTe is certainly encouraging. However, AONE’s ability to move to the next level clearly hinges on its ability to create strong relationships with major automakers such as GM.

GO TO

Related posts

Top