Now we can see where Fisker is going to get their batteries.
A123 Systems, Inc. Signs Multi-Year Battery System Supply Agreement With Fisker Automotive
8:19am EST
A123 Systems, Inc. announced a battery supply agreement with Fisker Automotive, a new American automaker building premium green vehicles. The supply agreement is for battery systems for the Fisker Karma Plug-in Hybrid Electric Vehicle (PHEV). The Karma is scheduled to be launched in late 2010 and expected to be one of the cleanest, most fuel-efficient cars in the world while still offering industry-leading style and performance. A123 Systems will provide Fisker Automotive with advanced automotive battery systems that combine high power and energy density with excellent safety and life performance -- characteristics required to meet Fisker's stringent technical specifications. Fisker Automotive and A123 will also collaborate on Fisker's Project Nina platform, with the intent of having A123 supply batteries for that vehicle based on meeting the automaker's performance and delivery requirements. Project Nina is expected to launch in 2012. In addition to entering into the supply agreement, A123 also announced its intent to invest up to $23 million in Fisker Automotive's current funding round in order to establish a strategic relationship with the car company. The contemplated investment would consist of $13 million in cash and $10 million in A123 common stock.
