A123 Systems fka AONEQ

[mlkrborn]

A123 says to replace defective battery packs; $1.50 Stox now! Oversold may be?




March 26 | Mon Mar 26, 2012 8:45am EDT

(Reuters) - A123 Systems said it launched a field campaign to replace battery modules and packs that may contain defective prismatic cells produced at its Livonia, Michigan, facility.

The company has begun building replacement modules and packs and expects to begin shipping them to customers this week, it said in a statement.

A123 expects the replacement to cost about $55 million and that it will be funded over the next several quarters.