LIVONIA, Mich., Dec. 17, 2018 (GLOBE NEWSWIRE) -- A123 Systems LLC, a developer and manufacturer of advanced lithium-ion batteries and systems, today announced substantial new business wins that will propel the company to market leadership in low voltage, high voltage, and Motorsports applications, achieving over $2 Billion in new business wins for the second straight year.
A123 recognized a strong market demand for its product in multiple low voltage and high voltage applications and drew upon its diverse product portfolio of lithium-ion chemistries and cell designs to win programs with both new and existing customers.
Capitalizing on a renewed focus on investment in NMC technology, A123 steadily increased market share in high voltage PHEV and BEV applications, primarily in the China region, with 2018 new business revenue expected to exceed $1B over program lifetimes.
The company’s long-standing strategic focus on low voltage applications brought new sales for the market leading 8Ah 48V battery as well as next-generation 48V solutions that will achieve volumes of over 3.5 million units over program lifetimes. Wins include major OEM’s with business in Europe, China and North America.
“A123 saw the substantial market potential and strategically went after programs we felt were well aligned with our strengths, it’s wonderful to see our efforts recognized with such prominent customer wins,” said Sam Trinch, Chief Commercial Officer for A123 Systems. “We’re not done closing on some major programs, but our success in winning and implementing new business year over year is what continues to drive us to exceed our customer’s expectations.”
About A123
A123 Systems is a global leader in providing complete energy storage solutions through advanced battery cells and systems for transportation and industrial applications. Offering a full range of world-class products, A123 delivers superior performance, reliability and cost savings from concept through commercialization.
For Inquiries:
Paulette Spagnuolo
Marketing and Communications Manager, A123
+1 734.772.0467
pspagnuolo@a123systems.com