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MassCEC Approves $5M Forgivable Loan for A123 Systems; Targeted at Expansion for Grid Storage Systems

Green Car Congress

The Massachusetts Clean Energy Center (MassCEC) has approved a $5-million forgivable loan for Li-ion battery manufacturer A123 Systems contingent on its hitting job creation and private investment milestones. With the new expansion, A123 Systems will assemble and commission grid-storage battery systems in Massachusetts.

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A123Systems Raises $69 Million in New Round of Private Financing; GE Increases Ownership to More than 10%, Director of GE Global Research to Join Board

Green Car Congress

A123Systems has raised $69 million from GE and other investors to accelerate the expansion of its US lithium-ion battery manufacturing and smart grid capabilities. The capital will help support the expansion of A123’s facilities in Hopkinton, MA, and Novi, MI, as well as build planned new factories in Michigan. Earlier post.)

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Will Obama’s billions jumpstart the electric car? The Green Piece

Green Cars News

If you listen to US President Barack Obama it has been a long time coming – his decision to pour $2.4billion of stimulus money to make America a global leader in electric and hybrid car development comes as the country plays catch up to the likes of Japan and even China in the green car race (see article ). “I Who will benefit?

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Why Warren Buffett is investing in electric car company BYD - Apr. 13, 2009

Tony Karrer Delicious EVdriven

The first buyers will be fleet users, which will build central fast-charging facilities. A chemist and government researcher, Wang raised some $300,000 from relatives, rented about 2,000 square meters of space, and set out to manufacture rechargeable batteries to compete with imports from Sony and Sanyo. "Too many new roads."

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Chrysler unveils new electric minivan for the US Postal Service

Tony Karrer Delicious EVdriven

Subscribe Green News Events Manufacturers Region New Cars Used Cars Filed under: EV/Plug-in , Chrysler Chrysler unveils new electric minivan for the US Postal Service by Sam Abuelsamid on Apr 22nd 2009 at 10:05AM Chrysler U.S. Based in Watertown, Massachusetts, A123Systems has announced plans for a Michigan-based production facility.

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The electric car and grid parity - OregonLive.com

Tony Karrer Delicious EVdriven

The Oregon Legislature is contemplating bills that provide credits for both manufacturers and purchasers of electric cars. The state of Michigan, which has seen its economy decimated by the collapse of the gas-powered auto industry, is pouring incentives into the alt-car market. • Cartoon: Recovery is Just Around the Corner!

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