Jason Forcier, vice president of automotive solutions for A123 Systems, told the Detroit Free Press last week that a technological breakthrough at the company will reduce the cost of electric vehicle battery packs by $600.
A123 has weathered some ups and downs in the last several months, primarily due to slower production at electric vehicle manufacturers, but their stock soared last week when they announced new technology that will make EV batteries “simpler, lighter, and longer-lasting,” according to a report in the New York Times.
The Massachusetts-based battery manufacturer, which has nearly 800 employees in Michigan and plans to add another 400 over four months, reported that it had achieved improvements in the electrochemical makeup of its nanophosphate batteries, according to the Free Press report.
Innovations in advanced batteries like this one are key to bringing down the sticker price for electric cars and trucks, which will help to make them more affordable for consumers, and even cheaper to operate over the vehicle’s life. Good news for A123, and good news for Michigan.