A123 acquires Hymotion
Watertown battery maker A123Systems said today it has acquired Hymotion Inc., a Canadian fabricator of aftermarket plug-in hybrid modules.
According to A123Systems, Hymotion's battery-range-extender modules can be easily installed in spare tire well of most hybrid vehicles; these modules can help such vehicles get 100 miles or more per gallon of fuel.
Financial terms of the acquisition were not disclosed, said A123Systems, a supplier of high-power lithium-ion batteries; such batteries have potential for helping to power hybrid vehicles.
"With 5 million hybrids expected on the road by the end of 2010, we feel there is a significant opportunity for an interim aftermarket solution," A123Systems chief executive David Vieau said in a statement referring to the Hymotion acquisition.
Converted plug-in hybrid electric vehicles have the potential to reduce oil consumption by as much as 75 percent and CO2 emissions by up to 50 percent when compared with vehicles powered by today's internal combustion engine, the company said.
(By Chris Reidy, Globe staff)
