A123 Systems (AONE) Soars On General Motors (GM) Lithium Battery Deal

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10:57:35 pm on August 11, 2011

Earlier today, A123 Systems (AONE) got some much needed good news and it was big news leading to a nearly 50% spike in the stock.  General Motors (GM) awarded the company a production contract  for batteries to be used in future GM electric vehicles to be sold in select global markets.  The deal expands upon the existing relationship between the two companies to further the development of advanced batteries. 

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“GM is committed to offering a full line of electrified vehicles – each of which calls for different battery specifications,” said Micky Bly, GM’s executive director – Global Electrical Systems, Infotainment and Electrification. “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.”

This expansion of the collaboration with GM certainly breathes some life into shares of AONE which have been in an absolute free fall for many months.  Some have even questioned whether the company can survive.  Perhaps those questions can be put to rest, but it could be some time before shares of AONE offer a sustained run considering they continue to blow through cash. 

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