Car battery maker A123 scores $15M more from GE
A123 Systems, maker of lithium-ion batteries — primarily for hybrid and electric cars — has nabbed another $15 million in funding from General Electric, marking the seventh time the conglomerate has invested in the capital-rich startup. This brings the total of A123’s recent round of financing to $69 million.
The Watertown, Mass.-based company says it plans to use the money to construct battery factories in Michigan close to its key automotive clients. These days, it’s rare… Continue Reading
GE invests in Think electric car and A123 Systems
In two connected investments, General Electric has put $4 million into Think, a Norwegian electric car manufacturer, and $20 million into A123 Systems, which manufactures batteries that are used in the cars.
Both companies are already well funded. Think has taken over $80 million to date and A123 has topped $150 million (past coverage here). The new investment by GE makes it the single largest shareholder in the latter company.
A123 is also planning an IPO sometime… Continue Reading