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USA: UPDATE 1-A123 to supply batteries for Navistar’s trucks

Supply agreement builds on earlier development deal

* A123 batteries to power truck with 100 miles range

* Shares up 3.6 percent in after-hours trading

SAN FRANCISCO, June 7 (Reuters) – Lithium-ion battery supplier A123 Systems Inc (AONE.O) said on Monday it will provide power packs for electric commercial trucks made by a joint venture of Navistar International Corp (NAV.N).

The news sent the company’s shares up 3.6 percent in after hours trading on the Nasdaq exchange. The shares closed down 6.1 percent, or 52 cents, at $8.01 during the regular session.

The supply agreement builds on an earlier deal by the companies to jointly develop batteries for electric vehicles for the Navistar Modec Electric Vehicle Alliance, a joint venture between Navistar and Modec Limited of the U.K.

A123 said it will manufacture battery systems for the eStar electric delivery vehicle at its Livonia, Michigan facility.

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Source: reuters.com

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