Big money has recently bet on this company. The most recent news from A123 Systems, mid August was the execution of agreements with Wanxiang Group Corporation, China's largest automotive components manufacturer and one of China's largest non-government-owned companies. Under the terms of the agreements, Wanxiang will invest up to $465 million in A123, which includes an initial credit extension of $25 million that A123 expects to receive this week. The full investment from Wanxiang is expected to provide A123 with the capital necessary to strengthen the company's competitive position in the global vehicle electrification and grid energy storage markets.
A123 Systems, Inc. (AONE) is a leading developer and manufacturer of advanced lithium-ion batteries and energy storage systems for transportation, electric grid and commercial applications. The company's proprietary Nanophosphate(R) lithium iron phosphate technology is built on novel nanoscale materials initially developed at the Massachusetts Institute of Technology and is designed to deliver high power and energy density, increased safety and extended life. A123 leverages breakthrough technology, high-quality manufacturing and expert systems integration capabilities to deliver innovative solutions that enable customers to bring next-generation products to market. For additional information please visit www.a123systems.com.
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