A123 Systems (AONE) Gets Battery Production Contracts with Three European Automakers

A123 Systems (Nasdaq: AONE), announced production contracts for the company's 12V Engine Start Battery with three leading European automakers, including McLaren Automotive for the MP4-12C and a major German OEM that will use the battery in a 2013 model year passenger vehicle. A123's Engine Start Battery is designed as a replacement for absorbent glass mat (AGM) and other lead acid batteries, providing a lighter-weight, longer-lasting solution for micro-hybrid functionality that enhances vehicle performance, improves fuel economy and lowers total cost of ownership. A123 is also developing next-generation designs that are intended to further reduce the cost of its Engine Start Battery to make it applicable to a wider range of vehicle applications.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Boeing names Ryan Shedd as new SVP and controller
• Denarius Metals acquires 15% stake in Copper Giant, Trafigura invests
• CoVolt Power files for proposed IPO