A123 Systems Inc. (AONE), a U.S. maker of lithium-ion batteries for electric cars, rose the most in more than three months after the U.S. Army introduced a prototype vehicle that uses its products.
A123, based in Waltham, Massachusetts, rose 17 percent to $1.12 at the close in New York, the biggest gain since Jan. 3.
The new A123 Systems lithium ion automotive battery manufacturing plant stands in Livonia, Michigan. Photographer: Jeffrey Sauger/Bloomberg
The company provided a battery for a hybrid light tactical vehicle developed by the Army’s Tank Automotive Research, Development and Engineering Center, the Army said yesterday in a statement.
A123 is working with several defense contractors and expects sales for military vehicles to increase as the Army makes a “big effort to decrease its energy consumption and roll out more efficiency technologies,” Dan Borgasano, a company spokesman, said today in an interview.