A123 will be supplying batteries to Fisker for the Karma PHEV and claims to have an exclusive development deal with another unnamed automaker.
A123 has also reported that its second-quarter loss grew to $34.2 million – up from $21.9 million in the same quarter last year – with revenues up 14 percent to $22.4 million. Meanwhile, the battery maker expects transportation to make up a bigger percentage of its business in the near- to mid-term. Increased business from heavy-duty manufacturers like Eaton and Navistar will up the transport share to 60-70 percent of its revenues.
Finally, A123 has spun off a new business called 24M Technologies that is partially funded by venture capital funds. 24M is developing battery solutions for grid power storage including wind and solar.
[Source: Earth2Tech, XConomy]