Northern, WI 8/11/2011 (PennyPayDay) – General Motors Co. (NYSE:GM) said Thursday that battery maker A123 Systems Inc. (NASDAQ:AONE) will produce batteries to be used in future electric vehicles being sold in select global markets.The Detroit-based automaker said the battery packs will be built at A123 Systems' Livonia facility.
The announcement didn't specify the vehicles.
A123 Systems recently hired its 1,000th employee in Michigan, and the company says the new contract will play a role in making sure those employees have work. A123 Systems currently employs 775 people in Livonia, and expects that number to increase.
The agreement builds on existing contracts between GM and A123 focused on next-generation lithium ion battery technology.
Shares of A123 Systems, based in Watertown, Mass., jumped $1.09, or 34.4 percent, to $4.26 in afternoon trading. The stock has traded between $2.99 and $10.99 over the last 52 weeks.
General Motors shares rose 95 cents, or 4 percent, to $24.87.
PennyPayday Free Stock Quotes and Approach to the Stock Market
PennyPayday focuses on bringing penny stocks and small-cap companies from all exchanges into the spotlight for investors seeking early development opportunities. PennyPayday has quickly become a recognized penny stock site and a top source for investors seeking information and research on today's emerging hot stocks. PennyPayday provides the investing public with stock market daily news, free real-time stock quotes, free stock charts, research for investing, as well as economic stories, videos, and market briefs from a staff of experienced and dedicated financial journalists.
Sign up for our Free Newsletter today, and join the thousands already getting our emails on the hottest stocks to watch.
Disclaimer: Neither www.PennyPayday.com nor its officers, directors, partners, employees or anyone involved in the publication of this website or newsletters is a registered investment adviser or licensed broker-dealer in any jurisdiction whatsoever. PennyPayday may or may not have been compensated by mentioned companies. For full disclaimer/disclosure please read PennyPayday's disclaimer.
No comments:
Post a Comment