A123 Systems (AONE) Expands Partnership with SAIC Motor to Address Lithium Ion Battery Technology Demand in China
Today, A123 Systems, Inc. announced a planned expansion of its partnership with SAIC Motor Corporation Limited, which is China’s largest automaker. This will build on the existing partnership that was established between the two companies back in 2009, when Advanced Traction battery Systems (ATBS), a battery pack joint venture company, was formed. Under a new framework agreement, A123 and SAIC Motor will carry out a feasibility study defining the business plan and investment requirement for a jointly developed battery manufacturing facility in China. It is anticipated that the proposed facility will serve the local market with an initial focus on…