A new addition to our Under The Hood series, meet A123 Systems, one of the major battery companies literally powering our electric future.
A123 Systems, the lithium iron phosphate battery manufacturer based in Watertown, Massachusetts, is currently contracted to supply batteries to some of the biggest names in the electric and hybrid electric vehicle world, with Fisker, GE, Think, BMW, Daimler and GM all onboard in one way or another. A123 Systems uses nanophosphate MIT derived technology to maximise battery capacity, battery charging time and a significantly longer battery lifespan and as such has also become very popular with R/C model enthusiasts and companies like Black and Decker who are using the batteries in their cordless power tools.
A123’s IPO hit the flickering stock market screens in September 2009 at an initial offering of $13.5 per share and raised $380,000,000. Shares hit a high of $28.20 but have now receded to a more modest $14.20 (at the time of writing), check AONE for exact current pricing. It is widely anticipated that A123 Systems will be the lead supplier of lithium-ion battery systems for both the North American and European electric and hybrid vehicle makers with Asian automotive manufacturing relying on technological advances made in the lucrative cell phone and laptop markets.