Car-battery maker A123 Systems Inc. has just finished raising $69 million, $15 million of which came from General Electric. This sum puts GE’s total ownership of the company at 10 percent and gets it a seat on the company’s board.
The money will go to building factories in Michigan to build lithium-ion batteries for the hybrid and electric car industry.
A123′s large investment is great news for Michigan, who has obviously suffered terribly from the recession and it’s effects on the auto industry.
A123 has already secured a major purchase of its batteries in Chrysler who will use the batteries for its upcoming line of electric cars.
President and chief executive of A123, Dave Vieau, stated that the success of the capital campaign shows that despite the crippled economy, investors are still looking for alternative energy tech that has potential.
By 2013 the production facilities that A123 is going to build will be capable of producing batteries for five million hybrid vehicles or a half-million plug-in electric cars like the Chrysler 200C EV pictured above.
There’s been so much buzz about Chrysler’s 200C Concept that we thought those who couldn’t make the auto show this year would enjoy a closer look at this slick hybrid vehicle. Will the Chrysler 200C ever see production? If Chrysler survives rumor has it that this is a concept vehicle that will actually see the light of day.
Although it’s a dark time for Chrysler right now with the current economic crisis hitting car manufacturers hard, they managed to pull off an impressive surprise at the 2009 Detroit Auto Show with their concept 200C hybrid.
This slick looking plug-in hybrid sedan uses ENVI’s ranged-extended electric vehicle technology to great effect. The 200C has a 40 mile range on battery alone and a 400 mile range with battery and a full tank of gas. It also boasts a top speed of 120 miles per hour and will go zero to 60 in seven seconds.
And since an environmentally conscious driver deserves the very best, Chrylser was kind enough to pack the interior of the 200C with the next generation of their uconnect infotainment system. The uconnect is controlled with a touch screen that serves as the hub for the vehicle’s connectivity system with plenty of navigation, music and Internet options. The uconnect system is also designed to connect directly to an iPhone allowing drivers to pre-program temperature, lock the doors, allow you to view an in-car camera remotely and track the car’s location live via GPS.
Of all of Chrysler’s concept cars this one seems the most likely to actually see production. Will it be a case of too little too late for the struggling company? Only time will tell but hopefully this impressive hybrid vehicle will see production.
