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Business

NEC Buys A123 Grid Battery Business

by Melody M. Bomgardner
March 31, 2014 | APPEARED IN VOLUME 92, ISSUE 13

Japan’s NEC has paid $100 million to buy the grid energy storage business of Massachusetts-based A123 Systems from its owner, the U.S. subsidiary of Chinese auto parts firm Wanxiang Group . The technology is based on nanophosphate lithium-ion batteries. NEC says combining the A123 assets with its own low-cost lithium-ion battery technology will help it better meet the growing global need for large-scale energy storage.

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