HANGZHOU, Zhejiang – A123 Systems has been picked to make lithium-ion battery packs for a new plug-in hybrid electric sedan from Geely, according to A123 company announcements.
A123 said it will supply 20 Ah prismatic cells to its joint venture between A123 and SAIC, for the production of complete lithium-ion battery packs for Geely’s new PHEV, which is expected to launch in China in 2014.
A123 said the 20 Ah prismatic cells will enable Geely to optimize the efficiency of its design and maximize vehicle range.
The deal with Geely came shortly after A123’s new framework agreement with SAIC. The two partners “are carrying out a feasibility study to define the business plan and required investment for a jointly developed battery manufacturing facility in China.”
Their joint venture, Shanghai Jiexin Power Battery Systems, Ltd., has provided batteries for several EV makers including SAIC’s mini electric car Roewe E50, which has a range of up to 120 km on a full charge.
A123 also provides batteries for Fisker Automotive’s Karma plug-in hybrid luxury sedan.
A123 sales grew significantly in 2011, but losses were widened as well. In early March the company announced in the United States that it lost $258 million in 2011, compared to $152 million in 2010. But the company remained optimistic to predict lower operating and capital costs and a 45-89 percent increase in revenue in 2012.