A123 Plans US $1.8B Lithium Ion Battery Production Facilities (14,000 jobs, MI, MA)

[jpak]

http://www.renewableenergyworld.com/rea/news/story?id=54461

A123Systems announced that it has submitted an application under the U.S. Department of Energy's Advanced Technology Vehicles Manufacturing Incentive Program to qualify for US $1.84 billion in direct loans to support the construction of new lithium ion battery manufacturing facilities in the United States, with the first construction location in southeast Michigan.

If A123’s application is approved by DOE, this program would enable the company to dramatically expand production capacity in the United States, with full production volumes designed to supply battery systems for five million hybrid vehicles or half a million plug-in electric vehicles per year by 2013.

"We’re entering an exciting new phase for the automotive industry where we increase the electrification of vehicles, reducing consumption of gasoline through advanced batteries. This new facility would greatly accelerate this change and help ensure that the American economy replaces its dependence on foreign oil with reliance on advanced, homegrown batteries,” said David Vieau, A123Systems president and CEO.

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[Massacure]

1. Sweet. Hopefully this drives down the price of lithium based batteries.