11 Facts About A123 Systems


A123 Systems, LLC, a subsidiary of the Chinese Wanxiang Group Holdings, is a developer and manufacturer of lithium iron phosphate batteries and energy storage systems.

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In December 2006, the United States Advanced Battery Consortium in collaboration with the U S Department of Energy awarded the company a US$15 million development contract to optimize A123 Systems' proprietary doped nano-phosphate battery technology for hybrid electric vehicle applications with a focus on power, abuse tolerance, durability and cost.

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A123 Systems and Think at the same time signed a commercial supply agreement.

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In January 2009, A123 systems applied to the U S Department of Energy's Advanced Technology Vehicles Manufacturing Loan Program for US$1.

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Later, A123 Systems was selected to Technology Review Magazine's list of the 50 Most Innovative Companies 2011.

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In 2010, A123 received a US$249 million grant from the U S Department of Energy for building battery production facilities.

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Company laid off 125 workers in December 2011 as A123 Systems had to issue a battery recall for all batteries in a car developed by Fisker.

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In February 2018, A123 Systems announced an investment in Ionic Materials' solid-state battery technology.

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In early October 2012, the A123 Systems' stock was trading for 27 cents per share, down from a 52-week high of $4.

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A123 Systems stated that its automotive assets would be purchased by Johnson Controls, a supplier to A123, for $125 million.

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A123 Systems company said it wanted to concentrate on mobility solutions after the sale of their plants.

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