written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . may 2012 learn how and when to remove this template message a123 systems llc . type subsidiary founded 2001 founder yet ming chiang bart riley and ric fulop headquarters livonia michigan u.s. products electric vehicle batteries batteries for various commercial products owner wanxiang america inc. number of employees 2000 parent wanxiang group website a123systems.com a123 systems llc a wholly owned subsidiary of wanxiang group is a developer and manufacturer of advanced lithium ion lithium iron phosphate batteries and energy storage systems for transportation and other commercial and industrial applications . the company was founded in 2001 by dr. yet ming chiang dr. bart riley and ric fulop . by 2009 it had about 2 500 employees globally and was headquartered in waltham massachusetts . 1 the company s original product technology was based upon materials initially developed at the massachusetts institute of technology . in 2010 a123 received a us 249 million grant from the u.s. department of energy for building battery production facilities . approximately 129 million of the grant was used to build a 550 mwh battery plant in livonia and another in romulus . 2 an untapped 120 million grant was abandoned by a123 by may 2012 . 3 the company laid off 125 workers in december 2011 as demand for partner fisker s automobiles had slackened . 4 a123 systems had more than 3000 employees as of december 2012 . 5 in august 2012 chinese automotive components manufacturer wanxiang group agreed to invest up to 465 million to acquire as much as 80 % of a123 systems ; 6 but the acquisition was not completed before a123 filed for bankruptcy . on october 16 2012 a123 filed for bankruptcy protection under chapter 11 title 11 united states code . on january 28 2013 wanxiang america purchased the preponderance of a123 s assets out of bankruptcy for 256.6 m and organized a123systems llc . 2 7 an earlier statement released by a123 systems in early october said that it had entered an asset purchase agreement with johnson controls with the stipulation that the company s bid must be approved by a us bankruptcy court and could be topped by a rival bidder . 8 in the event johnson did not win the bankruptcy auction and withdrew its bid in early december . 5 in early october 2012 the a123 systems stock was trading for 27 cents per share down from a 52 week high of 4.44 per share about a year beforehand . 9 contents 1 history 1.1 product recall 1.2 bankruptcy filing 2 products 2.1 transportation 2.2 electric grid 2.3 small applications 3 investments 4 recognition 5 see also 6 references 7 external links history edit advanced research and government solutions group ann arbor michigan in november 2005 the company announced a new higher power faster recharging lithium ion battery system 10 based on doped nanophosphate materials licensed from massachusetts institute of technology . in december 2006 the united states advanced battery consortium usabc in collaboration with the u.s. department of energy doe awarded the company a us 15 million development contract to optimize a123 systems proprietary doped nano phosphate battery technology for hybrid electric vehicle applications with a focus on power abuse tolerance durability and cost . citation needed usabc is an organization composed of chrysler llc corporation ford motor company and general motors corporation . 11 bae systems announced that from 2008 it would offer a123 systems lithium ion battery technology as part of its hybridrive propulsion system used in the 2008 version of the daimler orion vii hybrid electric buses . as of september 7 2009 more than 3 000 of the buses were in service . 12 in may 2008 the united states advanced battery consortium usabc in collaboration with the u.s. department of energy doe awarded the company a us 12.5 million grant to develop its lithium ion battery technology for plug in hybrid electric vehicles . 13 on march 5 2008 general electric the company and think global announced that the three firms had entered a partnership to enable global electrification of transportation . citation needed ge invested us 20 million in the company to help it roll out batteries for think . citation needed the company and think at the same time signed a commercial supply agreement . the partnership was announced at the 78th annual international motor show in geneva . 14 after over 10mm in investment in the think global think city a123 ceased production of its l20 battery pack for think after a single day of production in december 2008 . in january 2009 the company applied to the u.s. department of energy s advanced technology vehicles manufacturing loan program atvmlp for us 1.84 billion in direct loans to support the construction of new lithium ion battery manufacturing facilities in the united states locating the first plant in southeast michigan near detroit . 15 the application was still pending as of early 2012 the company estimated that it might be allowed to borrow up to us 233 million from the program . 16 in april 2009 chrysler corp. announced a contract with a123 to supply batteries for their envi ev vehicles . 17 in august 2009 the company received a us 249 million grant from the u.s. department of energy s advanced technology vehicles manufacturing loan program atvmlp to build production facilities in romulus and livonia mich. 18 after it received a us 125 million in tax credits and incentives from the michigan economic development corporation in spring and a us 10 million grant from the state in fall 2008 . 19 in september 2009 the company raised us 380 million after going public on the nasdaq stock exchange . 20 chrysler s envi division was disbanded by nov 2009 . 21 in december 2009 the company formed a joint venture with shanghai automotive industry corporation saic the largest automaker in china . this was the first joint venture between a chinese automaker and a non chinese battery supplier . the new venture is called advanced traction battery systems atbs . 22 in august 2010 a123 s co founder professor yet ming chiang spun off a new company from a123 named 24m technologies which makes technology that combines concepts in current lithium ion batteries with flow batteries where tanks of liquid electrolytes combine to create an electric current . 23 in september 2010 the company opened the largest lithium ion battery manufacturing facility in north america in livonia michigan . when fully operational the factory is expected to be capable of producing battery packs for the equivalent of up to 30 000 electric cars per year . 24 in march 2011 the company received its third contract from the united states advanced battery consortium usabc in collaboration with the u.s. department of energy doe an us 8 million advanced battery development contract to continue developing its nanophosphate lithium ion battery systems to meet usabc s target application for a power assist hybrid electric vehicle pahev low energy energy storage system leess . 25 product recall edit in early 2012 the company announced the replacement of defective battery packs and modules supplied to about five customers including fisker automotive . the defect caused a fisker karma to shut down in a consumer reports test . it estimated the recall would cost about us 55 million . citation needed fisker reduced its purchase order of battery from the company to lower its inventory . cylindrical cells made in china that are used by bmw and others are not affected . 16 bankruptcy filing edit on october 16 2012 a123 filed for bankruptcy protection under chapter 11 title 11 united states code . the filing listed assets of 459.8 million and liabilities of 376 million . 26 27 the company also stated that its automotive assets would be purchased by johnson controls a supplier to a123 for 125 million . 28 on january 28 2013 wanxiang america purchased the preponderance of a123 s assets out of bankruptcy for 256.6 m and organized a123systems llc . 2 7 the government business was sold to us firm navitas systems for 2.25 m. 29 products edit transportation edit fisker karma plug in hybrid electric vehicle phev is powered by an advanced lithium ion battery system from a123 passenger vehicles fisker karma a plug in hybrid tokyo japan taxis . better place is running a demonstration project with three electric taxis powered by a123 systems batteries . 30 the roewe 750 hybrid the roewe 550 plug in hybrid and a yet to be announced roewe brand all electric vehicle from shanghai automotive industry corporation saic the largest automaker in china 31 chevrolet spark ev a city electric car to be produced by general motors and scheduled to be sold in low volumes at select u.s. including california and global markets beginning in 2013 . 32 33 in may 2011 a123 introduced a lithium ion 12v engine starter battery designed as a lighter weight longer lasting and more environmentally friendly drop in replacement for lead acid batteries . 34 a123 s a123 s nanophosphate engine start battery was selected to r & d magazine s 2011 r & d 100 which salutes the 100 most technologically significant products introduced into the marketplace over the past year . 35 commercial truck bus and off highway navistar international estar electric vehicle ev delivery vehicle daimler buses north america orion vii . the number one selling when hybrid electric bus in the world . citation needed operating in new york san francisco toronto dallas and other major cities . citation needed eaton plug in hybrid trouble truck based on ford f550 1 smith electric vehicles newton an all electric zero emission delivery truck 36 alte a maker of range extended hybrid electric powertrain systems targeting the light duty truck market 37 racing 2009 mclaren mercedes formula 1 kers race car 38 killacycle formerly the worlds quickest electric vehicle capable of accelerating from 0 100 kilometres per hour 0 62 mph in less than 1 second . 39 ohio state university s buckeye bullet an electric landspeed racer powered by a123 s batteries broke the international electric vehicle speed record in august 2010 reaching 307.666 m.p.h. 40 in may 2011 a123 signed an agreement with mavizen a leader in electric motorcycle racing technology by which mavizen will make a123 s battery technology available for ttxgp racing and other two wheel motorsports . 41 an ultra light electric vehicle powered by 880 a123 li po4 batteries brigham young university s electric blue streamliner set a land speed record for the e1 vehicle class cars less than 1 100 lbs averaging 204.9 m.p.h. in two runs in september 2014 . 42 electric grid edit in november 2008 a123 entered into the electric grid market by delivering its first battery energy storage system to aes corporation for use at several aes substations in southern california . 43 in november 2009 a123 announced the commercial operation of a 12mw operating reserve project at the aes gener los andes substation in the atacama desert in chile . 44 in december 2010 aes corporation secured a loan from the united states department of energy to fund a 20mw frequency regulation energy storage system using a123 s battery technology at the aes westover power plant in johnson city new york . 45 in february 2011 a123 announced its second project in chile with aes gener a 20mw operating reserve energy storage system to be installed at a new 500mw power plant in northern chile called angamos . 46 in july 2011 a123 announced a contract to supply a 500 kw advanced energy storage system to dongfang electric the third largest manufacturer of wind turbines in china and the country s largest exporter of power equipment