A123 Systems to Supply Lithium Ion Battery Packs to Tata Motors for Hybrid Electric Transit Busses and Other Commercial Vehic...
March 01 2012 - 9:00AM
A123 Systems (Nasdaq:AONE), a developer and manufacturer of
advanced Nanophosphate® lithium iron phosphate batteries and
systems, announced today that it will supply complete lithium ion
battery packs to Tata Motors, India's largest automaker, for Tata's
hybrid electric systems for commercial vehicle applications. A123's
highly scalable battery packs are designed to fit into multiple
powertrain architectures that can be implemented into a wide
variety of commercial vehicles, providing Tata with a
cost-effective solution for meeting its performance, range and
durability requirements.
"We consider hybridization to be an integral component of Tata
Motor's overall strategy, and hybridization of our commercial
vehicles is particularly important to our global customers for
reducing the emissions and increasing fuel efficiency of their
fleets," said Dr. Timothy Leverton, Head - Advanced and Product
Engineering at Tata Motors. "A123 Systems' core lithium ion
technology has a proven track record of success in the hybrid truck
and bus segment, which we believe represents a very significant
market opportunity. In addition, the modularity of A123's pack
design enables us to develop a uniform hybrid powertrain
architecture that can be deployed across multiple vehicle
platforms."
Initially expected to be deployed on city transit buses during
the second half of 2012, A123's lithium iron phosphate battery
packs will be built using the company's prismatic cell technology,
which offers high power capabilities, increased usable energy over
a wide state-of-charge (SOC) range, excellent safety and long cycle
and calendar life. A123 will deliver complete systems that include
robust battery management electronics, and the compact form factor
of the prismatic cells enables A123 to design highly-scalable
battery packs that are intended to seamlessly configure to Tata's
hybrid electric powertrain architecture.
"The addition of Tata Motors to our growing portfolio of
blue-chip customers reinforces our position as the leading provider
of lithium ion battery technology for the truck and bus segment,"
said Jason Forcier, vice president of the Automotive Solutions
Group at A123. "We believe that this announcement further validates
the performance attributes of our Nanophosphate lithium iron
phosphate technology and underscores our systems integration
expertise. A123 understands the value proposition for commercial
fleet hybridization, and we believe we can help Tata
cost-effectively expand its portfolio of hybrid electric vehicle
offerings to allow its customers to take advantage of the long-term
benefits of fleet electrification."
About A123 Systems
A123 Systems, Inc. (Nasdaq:AONE) is a leading developer and
manufacturer of advanced lithium ion batteries and energy storage
systems for transportation, electric grid and commercial
applications. The company's proprietary Nanophosphate® lithium iron
phosphate technology is built on novel nanoscale materials
initially developed at the Massachusetts Institute of Technology
and is designed to deliver high power and energy density, increased
safety and extended life. A123 leverages breakthrough technology,
high-quality manufacturing and expert systems integration
capabilities to deliver innovative solutions that enable customers
to bring next-generation products to market. For additional
information please visit www.a123systems.com.
The A123 Systems, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6600
Safe Harbor Disclosure
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors,
including statements with respect to the expected launch date of
Tata's hybrid electric commercial vehicles, the anticipated
benefits and features of hybridization, Tata's ability to develop
and deploy a uniform hybrid powertrain architecture across multiple
vehicle platforms, the ability of A123's pack design to integrate
with Tata's powertrain architecture, the expected demand for
battery modules to be supplied to Tata, and the market for hybrid
electric energy transportation in heavy-duty and commercial
transportation applications . Among the factors that could cause
actual results to differ materially from those indicated by such
forward-looking statements are: delays in customer and market
demand for and adoption of Tata's hybrid electric commercial
vehicles, delays in the development and delivery of A123's battery
pack products, adverse economic conditions in general and
adverse economic conditions specifically affecting the markets in
which A123 and Tata operate and other risks detailed in A123
Systems' 10-Q for the quarter ended September 30, 2011 and other
publicly available filings with the Securities and Exchange
Commission. All forward-looking statements reflect A123's
expectations only as of the date of this release and should not be
relied upon as reflecting A123's views, expectations or beliefs at
any date subsequent to the date of this release.
CONTACT: A123 Systems PR Contact:
A123 Systems
Dan Borgasano
617-972-3471
dborgasano@a123systems.com
A123 Systems IR Contact:
ICR, LLC
Garo Toomajanian
617-972-3450
ir@a123systems.com
Edelman
Courtney Kessler
212-277-3720
courtney.kessler@edelman.com
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