A123 Systems Announces Rebranding
A123 Systems, which has sites in MetroWest, announced a rebranding of its advanced battery business in Westborough, five months after the company announced it would sell most of its assets to Chinese firm Wanxiang Group.
According to A123, which filed for Chapter 11 bankruptcy late last fall, its lithium-ion batteries for commercial applications will be known as A123 Energy Solutions. The move combines several previous business groups of A123 Systems, the company said. Business will also continue for its Nanophosphate cell products in Westborough.
"A123 Energy Solutions has always been focused on high performance, safe and reliable battery systems and will continue to develop new energy storage products under this new brand, which helps to distinguish our activities from the transportation division (in Michigan) and the technologies division in Waltham," said A123 President Bud Collins.
Wanxiang Group purchased A123's assets in a bankruptcy auction for $256.6 million in December. Assets included A123's automotive, grid and commercial business, and facilities in Michigan, Massachusetts and Missouri. Headquarted in Waltham, A123 has offices in Hopkinton and Westborough.
The sale was controversial because A123 had received $249 million in stimulus funding from the U.S. Energy Department. Roger Lin, a spokesman for A123, said the company has largely retained its workforce in Massachusetts since the sale, with roughly 160 employees in Westborough and Hopkinton.
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