A joint venture to build vehicle battery systems
Shanghai Automotive (NYSE 600104.SH) with the U.S. A123 (NYSE NASDAQ: Aone), 12 Yue 17 jointly announced that the two sides of the shares in accordance with a ratio of 51:49, the eIBM ThinkPad T43 battery，IBM ThinkPad T60 batterystablishment of Shanghai Czech Republic, New Power Battery Systems Co., Ltd. to jointly develop car battery power systems and provide technical services and other after-sales service. Industry sources say the move is a key component of the new energy in China Auto industrialization breakthrough.
A123 in 2001, Massachusetts Institute of Technology (MIT), was created lithium iron phosphate battery technology in the leading NASDAQ-listed companies. A123 annual production of hundreds of tons of cathode material powders and millions of primary batteries, and in the U.S. federal government, state government and Michigan Department of technologically advanced energy, automotive support incentive programs, the creation of a world-class large-scale lithium-ion battery production capacity and batteries.
The newly established Shanghai Czech New Power Battery Systems Co., Ltd. will focus on batteries, battery management, electrical balance of capital equipment, sensors and other components of professional development, the introduction of integrated storage solutions power system. Shanghai Automotive Industry,easy batttery President Chen Hong said: the worldwide trend towards the electric vehicle is irreversible, auto companies should flow, take the opportunity to prepare for these radical changes.
