A123 Asks for $1.8B in Federal Loans

1/8/09

Battery manufacturer A123 Systems of Watertown, MA, said yesterday that it has applied to the Department of Energy for $1.84 billion in federal loans under the department’s “green car” program. A123 says it wants to use the money to build a factory in southeastern Michigan that will manufacture lithium ion batteries for up to 5 million hybrid vehicles per year, or 500,000 plug-in electric vehicles per year, by 2013. Executives at Chrysler and GM, Michigan Governor Jennifer Granholm, Senators Carl Levin and Debbie Stabenow, and Representative John Dingell, as well as Massachusetts Senator John Kerry all voiced their support for A123′s application under the DoE’s Advanced Technology Vehicles Manufacturing Incentive Program.

Wade Roush is a contributing editor at Xconomy. Follow @

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  • http://www.xconomy.com Fred

    Is this an old article. It’s listed under 01/08/09, but then before u click the link it says 12/31/11

  • Brandon

    I have the same concern as Fred:

    Why did such an old article (2009) come up on my google feed as 12/31/11??