HybridCars.com
Published September 25, 2009
The smash hit IPO of lithium ion battery maker A123 Systems is sending waves of euphoria through the clean tech and plug-in car market. Mass.-based A123 Systems is now worth nearly $2 billion—indicating huge investor confidence in the future of electric cars, plug-in hybrids, and the batteries that make them go. Yet, A123 has yet to make a profit and faces significant hurdles to mass commercial success.
In the first day of trading yesterday, A123 Systems rose more than 50 percent to as high as $21.14 before closing at $20.29. The company raised about $380 million, well above its original estimate of a minimum of $250 million.
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