Automotive News China reports that Li-ion battery maker A123 Systems won a 6.9-billion CNY (US$1 billion) contract to supply 2.6 million Li-ion batteries for 48V systems to the SAIC-GM joint venture in China.
The news comes via a statement by Wanxiang Group, the owner of A123 Systems.
A123 initially entered into a partnership with SAIC Motor in 2009 with the formation of Advanced Traction Battery Systems (ATBS), a battery pack joint venture company. In 2012, the two expanded their partnership.
