A123 Planning China Production Plant
Waltham-based A123 Systems, which has operations in Westborough and Hopkinton, is exploring the building of a manufacturing plant in China with that country's largest automaker, the company announced.
A123, which makes lithium-ion batteries for electric vehicles, said the agreement with SAIC Motor Corporation, which has been working in a partnership with A123 since 2009, would help A123 respond to increasing demand for its technology in China.
"We believe there is significant opportunity for A123's technology across several different markets in China," said Chen Zhixin, executive vice president for SAIC. "So expanding our partnership should provide SAIC with an even broader opportunity to benefit from the increasing demand" for its products.
A123 said it expects to complete negotiations with SAIC on construction plans by September.
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