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Business
A123 Sells Battery Materials Plant
by Marc S. Reisch
October 13, 2014
| A version of this story appeared in
Volume 92, Issue 41
A123 Systems, a maker of nanophosphate lithium-ion batteries owned by the Chinese auto parts company Wanxiang, has sold its lithium iron phosphate (LFP) cathode materials plant in China to Johnson Matthey. A separate agreement calls for Johnson Matthey to make LFP exclusively for A123. Johnson Matthey says the deal strengthens its position in the battery technology sector. Wanxiang bought A123 for $257 million in 2012 after the battery maker filed for bankruptcy reorganization. Earlier this year, NEC bought A123’s grid energy storage business for $100 million.
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