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

Login or Create new account to add a comment!

Recommended

More positive news has been pouring in before the year ends. For those who have been waiting to hear the latest word on Toyota 86, we have some great news....
by - December 10, 2016
Hyundai is making the green vehicle race more competitive by offering three powertrain types -- pure electric (EV), hybrid (EV plus combustion engine) and plug-in hybrid (PHEV) – in one...
by - December 9, 2016
Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
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