A123 Systems LLC, a developer and manufacturer of advanced lithium-ion batteries and systems, has announced substantial new business wins, achieving more than $2 billion in new business wins for the second straight year. A123 Systems says these new business wins will “propel the company to market leadership in low-voltage, high-voltage, and motorsports applications.”
A123 recognized a strong market demand for its product in multiple low-voltage and high-voltage applications and drew upon its diverse product portfolio of lithium-ion chemistries and cell designs to win programs with both new and existing customers.
Capitalizing on a renewed focus on investment in NMC technology, A123 steadily increased market share in high voltage PHEV and BEV applications, primarily in the China region, with 2018 new business revenue expected to exceed $1 billion over program lifetimes.
The company’s longstanding strategic focus on low-voltage applications brought new sales for its 8Ah 48V battery as well as next-generation 48V solutions that will achieve volumes of more than 3.5 million units over program lifetimes. Wins include major OEMs with business in Europe, China and North America.
“A123 saw the substantial market potential and strategically went after programs we felt were well aligned with our strengths, it’s wonderful to see our efforts recognized with such prominent customer wins,” said Sam Trinch, chief commercial officer for A123 Systems. “We’re not done closing on some major programs, but our success in winning and implementing new business year-over-year is what continues to drive us to exceed our customer’s expectations.”