UPDATE 2A123 Systems SAIC to set up China car battery JV Reuters

3 Июн 2014 | Author: | Комментарии к записи UPDATE 2A123 Systems SAIC to set up China car battery JV Reuters отключены
SAIC Roewe E50 Electric Cars

Japanese Tsunami: After the

* A123 says Chinese bus attractive in short term

* reducing cost of batteries key to (Adds executive comments, stocks price and byline)

By Gupta and Alison Leung

SAN KONG, Dec 17 (Reuters) — battery maker A123 Inc AONE.O said on Thursday it is a joint venture with top carmaker SAIC Motor ( 600104.SS ) to sell battery for electric vehicles in the world’s automotive market.

A123’s joint venture SAIC would build vehicle traction battery for hybrid electric, pure passenger vehicles, and heavy-duty and buses in China.

This is a commitment to the Chinese market, Jason Forcier, who leads automotive division, in an interview. We are to be basically the market leader in both in the truck and passenger car

Following the news of the announcement, of the Watertown, Massachusetts-based company, debuted on the Nasdaq stock in September, closed up 6 percent at

The venture, called Shanghai Traction Battery Systems Co, be owned 51 percent by SAIC and 49 by A123 Systems, according to the

Forcier said the Chinese bus was an attractive segment for the company in the term, given the government for electricity-powered buses.

The passenger car was much more lucrative in the term, he added.

Forcier A123 Systems is expanding its in Europe and in discussions with in India.

A123, which won a $249.1 grant in August from the Department of Energy, will production at its first U.S. plant in mid-2010.

The automotive for lithium-ion batteries, mostly in mobile phones and computer is projected to be $32 million in 2009 but is to skyrocket to $22 billion in 2015, to A123’s prospectus.

SAIC Roewe E50 Electric Cars

Every global automaker has plans to electric vehicles to the market in the two to three years.

Forcier said bringing the cost of battery systems is the challenge going forward.

is the real driver in this Forcier said, adding he is confident A123 will be in bringing down the cost of by as much as 35 percent in the next few

Analysts estimate that of battery systems for electric or plug-in hybrids can range about $8,000 to $15,000.

founded by scientists linked to the Institute of Technology (MIT), is working with German carmakers BMW and Daimler, U.S. Chrysler and France-based Renault. It has relationships with suppliers Delphi and Magna Steyr.

The new venture of A123 with has been awarded a contract to battery systems for SAIC’s hybrid vehicle program.

had plans for a hybrid Roewe 750 and a plug-in hybrid version of the 550, which could cut consumption by 20 percent and 50 percent Both models would A123 battery cells.

The carmaker planned to launch vehicles for sale in 2012. by Alison Leung; Editing by Lewis and Carol Bishopric)

SAIC Roewe E50 Electric Cars
SAIC Roewe E50 Electric Cars
SAIC Roewe E50 Electric Cars

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