Aug 11, 2011
GM (NYSE:GM) announced today that the company has awarded a production contract to A123 Systems (NASDAQ:AONE) for batteries to be used in future GM electric vehicles to be sold in global markets.
Micky Bly, an executive director at GM said, "GM is committed to offering a full line of electrified vehicles - each of which calls for different battery specifications. We work with a variety of battery developers and A123's advanced Nanophosphate lithium ion technology offers ideal performance capabilities for a future electrified vehicle application."
The specific vehicles and brands will be announced at a later date.
This contract win is being attributed as a driver of A123's stock move, with shares up about 42% so far today.
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