A123 Systems (AONE) Inks Battery Supply Deal With Smith Electric

Posted by | # |
08:13:09 pm on May 9, 2011

A123 Systems (AONE) announced a supply deal with Smith Electric after the bell today.  They will be supplying 5kWh battery modules for all electric commercial trucks beginning in the 2nd half of this year.   The first battery modules will be first used in a 7.5 ton electric vehicle used by such companies as Frito-Lay, Staples, Coca Cola as well as the US Marines Corp. No word on the quantity or financials of the deal.

===> Click Here For Your FREE A123 Systems Analysis

"The addition of Smith Electric Vehicles to our growing portfolio of blue-chip customers reinforces our position as a leading provider of lithium ion battery technology for heavy-duty and commercial transportation applications," said Jason Forcier, vice president of the Automotive Solutions Group at A123.

Shares of AONE aren’t moving on the news and are actually down a bit in after hours trading most likely due to another poor earnings report which I’ll post about a bit later. 

Tags: , ,
 
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.

Comments  

No comments yet.

Leave a comment

(required)

(required)


*