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A123 Systems

Solid Power ‘to scale-up’ with investments boost

Wed, 09/19/2018 - 08:53 -- Hugh Finzel
Solid Power image

The venture capital arm of Belgium-based battery materials firm Solvay has made an equity investment in US-headquartered next-generation solid-state batteries developer Solid Power.

Solvay Ventures’ move came after Solid Power announced it had generated US$20 million in a Series A investment round, which drew funding from companies including Samsung, Hyundai cradle, Sanoh, and A123 Systems.

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Change at the top of A123

Fri, 09/08/2017 - 10:00 -- News Editor
Change at the top of A123

US-based lithium-battery firm A123 Systems has announced a leadership change with the appointment of Peter Cirino (pictured) as CEO.

Cirino, who has run A123’s Europe operations since 2016, succeeds Jason Forcier.

 

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A123 cuts US jobs builds new HQ

Thu, 04/13/2017 - 09:43 -- Xuan Zhong
A123 cuts US jobs builds new HQ

US-based A123 Systems announced last Monday that it is building a new headquarters but cutting jobs in the US.

The lithium battery firm said it will invest $40 million in a new, consolidated corporate headquarters, manufacturing centre, and engineering base on 32 acres in Novi, Michigan, despite somewhat volatile US market for electric vehicles.

 

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A123 Systems wins $1B contract to supply Li-ion batteries for 48V systems to SAIC-GM

Fri, 03/03/2017 - 11:01 -- Paul Crompton

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.v

 

A123 to double Li-ion output as it forecasts 50% growth

Fri, 06/12/2015 - 10:25 -- Paul Crompton
A123 to double Li-ion output as it forecasts 50% growth

North American lithium-ion firm A123 Systems is set to double its global manufacturing capacity to 1.5 GWh to meet demand.

An additional $200+million of investment is planned over the next three years, with further investments anticipated as target markets develop.

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Turbulent week of mixed fortunes for A123 Systems

Thu, 05/21/2015 - 15:31 -- Paul Crompton
Turbulent week of mixed fortunes for A123 Systems

It doesn’t matter how you spin it, lithium-ion battery manufacturer A123 Systems has had a heady mix of fortune this week.

Firstly the company, bought for £251million by China’s Wanxiang Group in 2012 after filing for bankruptcy, sold its the non-automotive lithium-ion battery and system integration branch.

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Lawsuit accuses Apple of poaching A123’s top Li-ion battery engineers

Fri, 02/20/2015 - 14:27 -- Paul Crompton
Lawsuit accuses Apple of poaching A123’s top Li-ion battery engineers

Lithium iron phosphate battery manufacturer A123 Systems is suing Apple Inc. for alledgedly poaching five key members of its staff.

A123 has accused five former employees of violating Invention, Non-Disclosure, Non-Competition and Non-Solicitation agreements in the lawsuit filed in Massachusetts state court on February 13.

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