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.
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
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.
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.
US lithium-ion battery developer A123 Systems LLC is set to compete with lead-acid in the micro-hybrid cranking with its 12V product line.
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.