A123 Systems, Inc. (NASDAQ: AONE) has announced that Advanced Traction Battery Systems, its co-owned Shanghai-based joint venture company, has been selected to develop battery packs for a new plug-in hybrid electric sedan from Geely in China.
Geely is one of the fastest-growing automakers in China and the parent company of Volvo Car Corporation.
A123 will supply 20Ah prismatic cells to ATBS for the production of complete lithium ion battery packs for Geely’s new PHEV. The effort is expected to launch in China in the year 2014.
The most recent news and reports about business with Fisker has weighed on the stock, and the news out of the clean energy and alternative energy has not exactly been much of a help in 2011 and 2012. A123 shares have popped by 7.5% to $1.69 on the news and the 52-week trading range is $1.51 to $8.08.
JON C. OGG
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
