The Car and Truck Fleet and Leasing Management Magazine

Lithium-Ion Battery Maker's IPO a Hit With Investors

September 28, 2009

WATERTOWN, MA --- A 50-percent jump in the shares of lithium-ion battery maker A123 Systems on the company's first day of trading last week provided a big boost for the clean-tech market. 

Reuters reported that when the market closed Sept. 24 after the initial public offering of 28,180,501 shares of A123 Systems' common stock, the company was worth over $1.9 billion. That's a noteworthy number since the company hasn't yet turned a profit and still needs large-scale commercialization. The stock's first-day jump is the second-best performance for a debut stock in 2009. 

A123 Systems develops and manufactures advanced lithium-ion batteries and battery systems for transportation, electric grid services and consumer markets. Last month, the company announced it had been awarded a $249 million grant from the Department of Energy's Electric Drive Vehicle Battery and Component Manufacturing Initiative.

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

Vehicle pricing discounts on specific vehicles offered by the automakers.

Read more

Alternative Fuel Locator

Use the Alternative Fuel Locator to find stations near you.

Launch Alternative Fuel Locator

Up Next

More From The World's Largest Fleet Publisher