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A123 Systems, a developer and manufacturer of advanced Nanophosphate(TM) lithium ion batteries and systems, this week announced that they are entering into a joint venture with SAIC Motor Co. Ltd, a leading automaker in China. The focus of the joint venture is to develop, manufacture and sell complete vehicle traction battery systems for use in [...] A123 Systems is the receipiant of a $249 million grant from the U.S. Department of Energy’s (DOE) Electric Drive Vehicle Battery and Component Manufacturing Initiative. Under the terms of the $249 million grant, A123 will be required to match the funds over time as they are used. This grant is an important part of A123’s U.S. manufacturing [...] |
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