A123 Systems (NASDAQ:AONE) says that Advanced Traction Battery Systems, its joint venture in Shanghai with SAIC Motor Corp, has been picked to develop lithium ion battery packs for a new plug-in hybrid electric sedan from Geely, “one of the fastest-growing automakers in China and the parent company of Volvo Car.”
A123 says it will supply 20Ah Nanophosphate brand prismatic cells to ATBS for battery packs for Geely’s new PHEV, which is expected to launch in China in 2014.
Geely is a global automaker with more than 30 different models in its portfolio, and produced more than 430,000 vehicles last year, A123 says. “We believe that China, the largest and fastest growing auto market in the world, represents a significant opportunity for our technology,” A123 automotive solutions VP Jason Forcier said in a release.
Further Manufacturing in China?
A123’s 20Ah prismatic cells, the company says, “are designed to deliver high power, increased safety, extended life and a higher usable energy over a wider state-of-charge, enabling Geely to optimize the efficiency of its design and maximize vehicle range.”
A123 has also reported a new framework agreement with SAIC for ATBS, and that the partners “are carrying out a feasibility study to define the business plan and required investment for a jointly developed battery manufacturing facility in China.”
A123 sales grew significantly in 2011, but losses widened too. The firm emphasized the potential of stationary markets as it reported its results on March 8.
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