A123 Inks GM Production Deal
It looks like A123 Systems is seeing some payoffs from the lithium-ion battery manufacturing facility it opened in Livonia, MI, late last year. Waltham, MA-headquarted A123 (NASDAQ: AONE) has nabbed a production contract from General Motors to provide the battery packs for an upcoming line of electric vehicles from the automaker, GM announced. The battery packs will be produced at the Livonia site. General Motors, which was previously testing the A123 technology in a development agreement with the company, did not disclose the financial terms of the production contract or which vehicles the A123 battery packs will power.