April 16, 2009: A123 Systems, whose nanophosphate formula is an important ingredient in its Li-ion batteries, has received more than $100 million in tax credits from the state of Michigan.
The tax credits are part of a push by Michigan Gov. Jennifer Granholm to make the state a center for automotive battery manufacturing. The Massachusetts-based company will open a new production plant in suburban Detroit.
The announcement came shortly after Chrysler chose A123 as its supplier of lithium-ion batteries for electric vehicles expected to reach the market in 2010.