A123 Systems Likes China and India
A123 Systems Inc. (NYSE: AONE) is expanding its partnership with SAIC Motor Corporation Limited that began in 2009 with the founding of Advanced Traction Battery Systems, a battery pack joint venture company.
The updated agreement outlines the business operations and required investment for a new battery manufacturing facility in China.
The new facility will serve the local market and is to produce A123′s 20Ah prismatic cells at a faster pace, increasing cost-effectiveness and catering to the growing demand of lithium ion battery systems across a variety of markets in China.
In addition to its recently amended joint venture agreement with China’s leading automotive manufacturer, SAIC Motor, A123 also recently announced that it will be partnering with Tata Motors Ltd. (NYSE: TTMT), India’s largest automobile company.
A123 will be supplying its lithium-ion battery packs for Tata Motors’ hybrid diesel-electric commercial transit vehicles.
A123′s advanced lithium-ion battery technology and newly established or expanded joint venture deals with both China’s and India’s top automotive manufacturing corporations have positioned the company as “the leading provider of lithium-ion battery technology for the truck and bus segment”, in the words of A123′s automotive group vice president, Jason Forcier.
Until next time,
A123 Systems Embraces China and India originally appeared in Green Chip Stocks. Green Chip Review is a free 2x-per-week newsletter, is the first advisory to focus exclusively on investments in alternative and renewable energies.
Green Chip Stocks Editors & Contributors Jeff Siegel Jeff Siegel is the managing editor of Green Chip Stocks, an independent investment research service that focuses exclusively on renewable energy and organic and natural food markets. Nick Hodge One of the bright young minds in today's cleantech industry, Nick is putting his knowledge of nascent green markets to use in several ways... Nick is the co-author of a best-selling book and has interviewed dozens of times for TV and Web; his keen insight, uncanny foresight, and global contacts have led to double- and triple-digit wins for his readers, time after time.
- America’s Problem with Solar
- PV @ $0.37 per watt in 2017?
- Fuel Cells in Outer Space!
- Electric Vehicle Wireless Charging is Here
- New York City Gets 25 Solar Streetchargers
- Will Electric Racers dominate at Pikes Peak?
- Improving Solar Cells with Quantum-Dot Microscopy
- Reduce Your Global Footprint and Energy Consumption
- Solar on Breweries Across the U.S
- How Green Windows Provide Energy Efficiency
- Solar + Cloud Computing: Google’s Project Loon
- Wood as a Green Material
- In Focus: Green Engineering Advancements
- The Electric Vehicle Market in 10 Years
- Panasonic: 100M Li-Ion Tesla Batteries Ship This Month
- In Focus: India’s Energy Ties with Iran
- New Renewable Energy Projects Approved by Obama Adminstration
- The Solar Robots are Coming!