A123 Systems
Acquired by Wanxiang
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A123 Systems Snapshot
A123 Systems wants to get everyone all charged up over electric vehicles. And it plans to use rechargeable lithium-ion batteries to do it. The company develops and makes rechargeable batteries and battery systems for transportation, commercial, and electric grid applications. It targets the fast-growing hybrid and electric automotive and heavy-duty vehicle markets. In the electric grid sector, the company is working with AES to produce multi-megawatt battery systems that take the fluctuations out of the electricity grid and provide backup power during shortages. Its batteries are also used in home appliances, power tools, and other consumer products. Customers in the US make up nearly three-quarters of sales.
