April 5, 2018 | News Brief | Lithium Werks has acquired the original A123 Systems manufacturing plants located in Changzhou, China. These plants were the first to introduce the NanoPhosphate technology in the form of cylindrical cells that have been used globally in a wide array of applications, especially in the industrial market. As part of the transaction, Lithium Werks has taken over the customer relationships in China, Europe, and the US as well as the operations, staff and product designs associated with the Changzhou business. Lithium Werks is also the new owner of the POWER. SAFETY. LIFE. trademark that characterized A123’s product portfolio in its early years. The transaction was financed through the working capital of Lithium Werks.
“We are confident that this acquisition helps propel Lithium Werks into a leadership position in the Lithium Iron Phosphate market globally,” said Knut H. Nylænde, Lithium Werks’ Chairman.
“A123 Systems is pleased to have concluded this agreement and is confident that our former customers in the industrial market are in great hands with Lithium Werks. A123 is sharpening its focus on world-class automotive applications ranging from mild-hybrids to fully electric vehicles,” said Jeff Kessen, A123 Systems’ VP of Corporate Strategy.
