A123 Systems Announces First Quarter 2010 Financial Results
A123 Systems (Nasdaq:AONE), a developer and manufacturer of advanced Nanophosphate™ lithium ion batteries and systems, today announced financial results for the quarter ended March 31, 2010.Davi
Since closing our IPO, the number of transportation customers with whom we are engaged in development and design activities has doubled, with over 50% of this increase attributable to passenger vehicle programs. In addition, our customer activity levels in the electric grid market have increased significantly compared to last year. As a result of strong customer demand, A123 has initiated plans to expand final cell assembly capacity by an additional 200 megawatt-hours, which will bring A123's total worldwide capacity to 760 megawatt-hours.