A123 Systems names Jason Forcier as new chief executive

Article by Anita Panait, on October 11, 2013

Lithium ion battery maker A123 Systems now has a new chief executive in the persona of Jason Forcier, who had been the president of its auto business. A123 also named Forcier as a member of its board, with the responsibility to oversee all battery and transportation business, product development and manufacturing around the world.

A123 filed for bankruptcy in October 2012 due to weaker-than-expected demand for hybrid vehicles as well as technical problems. Wanxiang Group parts maker Wanxiang Group acquired A123's auto-related assets for $257 million in January 2013. Forcier remarked in January that with Wanxiang's support, A123 would make investments in areas of growth, including batteries for hybrid and micro-hybrid vehicles. Auto business was expected to account for half of A123's sales this year, but its electric grid unit was seen to become its largest business in the next several years.

Forcier also disclosed in January that A123 is hoping to leverage its connection with Wanxiang into more business in China, where it currently operates via a joint venture with SAIC Motor Corp Ltd. When A123 reorganized, its transportation business retained the A123 Systems brand with Ed Kopkowski being appointed as president of the group.

The company named Mujeeb Ijaz as president of A123 Venture Technologies, which runs its research arm. Prior to Forcier's appointment, A123 had been run by board members Pin Ni, president of Wanxiang America, and Tom Corcoran. A123 got a $249-million funding from the government of the United States as part of a clean energy program to build manufacturing facilities in Michigan. Around half of the amount was not released.

Topics: a123

If you liked the article, share on:

Comments

Recommended

Citroen revealed that its entry to the Chinese market is moving forward with the planned release of the new generation C5. While still on sale on this part of the...
by - February 26, 2017
There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries