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A123 Systems to Build US Lithium-ion Battery Plant With or Without Government AidA123 Systems to Build US Lithium-ion Battery Plant With or Without Government Aid
A123 Systems is the Massachusetts-based lithium ion battery company that has developed high power lithium-ion nanophosphate cathode technology. They were in the running to build the Chevy Volt’s battery packs but lost this round to LG Chem. Nonetheless, GM continues to work with A123 as well as Chrysler, Mercedes, Think, and several others. The company is planning an IPO and recently announced it had applied for $1.84 billion in US DOE loans to help it build a United Sattes battery factory. Such domestic manufacturing capacity is critical as this country moves away from petroleum as a vehicular energy source.
The latest news from A123’s VP of business development Ric Fulop is “With the Chrysler agreement, A123 will definitely build a plant in Michigan,” and that this will happen regardless if the loans come through.
Source (Automotive News)
View original artcle at: “https://www.greencarreports.com//news/1019998_a123-systems-to-build-us-lithium-ion-battery-plant-with-or-without-government-aid”
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