Remove Grid Remove Industrial Remove Michigan Remove Stimulus
article thumbnail

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.

Financing 150
article thumbnail

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? Our verdict.

Green 51
article thumbnail

The electric car and grid parity - OregonLive.com

Tony Karrer Delicious EVdriven

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. Thats the kind of incentive that tends to invite new entrants to the field, and indeed, Michigan has seen new ventures springing up from local and global companies.

Grid 28