A123 gets electric motorsports deal
A123 Systems Inc. (Nasdaq: AONE) said it has reached a supply and distribution agreement to provide lithium-ion battery technology for high-performance motorsports.
The deal for the Waltham, Mass.-based company is with Mavizen, the technical arm of the eGrandPrix, which holds the title of world's largest electric motorsport program and announced its first Portland race earlier this month. Financial terms and other specifics of the deal were not disclosed.
In its announcement, A123 said it is "the world’s first Tier 1 OEM supplier to directly set up an official distribution channel for the advancement of clean-tech motorsports."
The company said it expects teams in electric motorcycle racing and other two-wheel motorsports "will be able to gain a competitive advantage by deploying A123’s products.”
From the Boston Business Journal.
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