A123 wins contract to supply batteries for SAIC-GM
Automotive News China
Automotive News | 2017-2-14
A123 Systems, a U.S. battery maker owned by Chinese supplier Wanxiang Group Co., won a 6.9 billion yuan ($1 billion) contract to produce batteries for SAIC General Motors Corp.|
The company will supply 2.6 million lithium ion batteries for 48-volt start-stop systems for vehicles to be produced by GM's joint venture with SAIC, according to a statement posted by Wanxiang.
A123's batteries are used to power start-stop systems and electric superchargers to improve fuel efficiency.
Wanxiang acquired A123 after the company sought bankruptcy protection in 2012. At that time, it was a supplier to Fisker Automotive Holdings Inc., which was also purchased by Wanxiang.
SAIC-GM sold nearly 1.9 million vehicles in 2016, up 7.7 percent from a year earlier. Among the various Cadillac, Buick and Chevrolet models it sells, nearly 78 percent are fitted with stop-start systems, according to its website.
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