A123 Systems Gets Additional GE Funding

General Electric (GE) continues to invest in Michigan based, lithium ion batter maker A123 Systems, providing another $15 million in financing and gaining a seat on the board in exchange.  This follows the recent announcement that A123 Systems was selected by Chrysler to develop lithium batteries for their line of electric vehicles due out in 2013.. assuming of course Chrysler stays in business or is bought out.  GE now owns about 10% of A123 Systems which will use the financing to build new factories in Michigan, allowing it to move closer to profitability.

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