Some much needed news this morning for a company that continues to struggle and bleed red ink- A123 Systems (AONE). Many wonder whether this company ultimately survives and that’s reflected in the stock price which plunged about 80% last year. This morning the company has announced it will be the lithium battery supplier for Tata Motors (TTM) commercial vehicles. Tata is India’s largest vehicle manufacturer so the news isn’t insignificant.
A123’s highly scalable and versatile … Read the rest
A123 Systems (AONE) is getting a much needed boost this morning, up 10% on news it has struck a deal with VIA Motors to supply them with lithium ion battery packs. The 24kWh packs will be combined with VIA’s 300kW electric motor and onboard generator to deliver an all eletric driving range of up to 40 miles for cars, vans and trucks. VIA has already begun receiving the packs and delivering electric trucks to commercial … Read the rest
The big losses for A123 Systems (AONE) continues with no end in sight and that is never more apparent after the earnings report this quarter in which the company reported record revenues, but another steep loss to go with it. The company reported an EPS loss of .51/share (wider than analyst estimates for loss of .38/share) on revenues of $64.3 million vs the analyst estimate for $66 million.
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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After sinking to new all time lows last week, shares of A123 Systems (AONE) are popping higher today on news that Morgan Stanley upgraded to Overweight from Equalweight and raised the price target to $9/share which would be a double from Friday’s closing price.
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The firm cites three catalysts as well as revenue visibility.
1. Sees revenue ramp (could top 2009 & 2010 totals over next … Read the rest
A123 Systems (AONE) continues to bleed red ink, but the CEO still remains positively upbeat and confident that a revenue ramp begins this quarter and continues through the rest of the year. We shall see, but for now the company is far away from profits and still in survival mode as the stock continues to tank.
The company posted an EPS loss of .51/share which was larger than what analysts expected (loss of .46/share) … Read the rest
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.
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As expected A123 Systems (AONE) reported another loss, but it was larger than analysts had expected. The company reported and EPS loss of $0.43/share on revenues of $24 million. Analysts expected a loss of $0.37 share on revenues of $26 million.
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The CEO remains optimistic that the pieces are in place for big growth in the coming years, but didn’t give specific guidance for this … Read the rest
It was a good day for US based electric car stocks today, particularly Tesla Motors (TSLA) which surged nearly 7% on news that Michigan Senator Debbie Stabenow wants to replace the $7500 tax credit for electric vehicles with an instant $7500 rebate.
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With the cost of electric cars out of the reach of most Americans, particularly in tough economic times, a bill like this would help … Read the rest
A123 Systems (AONE) has signed a deal with AES Energy (AES) and will supply 20MW in lithium battery storage solutions for a 500MW power plant in Chile. This is the 2nd project in Chile the two companies have collaborated on. Currently, all of its battery storage biz comes from AES, so the technology would be further validated with deals with other utilities. A123’s storage solutions will provide stability to the electric grid in northern Chile, … Read the rest