A123 Systems Lowers Forecast

Electric Car News | admin | November 5, 2011 at 7:08 am

A123 Systems lowered its 2011 revenue forecast due to reduced orders, and it’s pointing a finger squarely at Fisker Automotive.

A123, a supplier of batteries for automakers including General Motors Co. and Daimler AG, said Fisker lowered orders of packs for its Karma plug-in hybrid electric vehicle.

A123 now says it will report 2011 sales in the range of $165 million to $180 million, down from an earlier forecast of $210 million to $225 million.

Fisker has just begun to sell its $100,000 Karma plug-in hybrid, with a few dozen models now parked at dealership locations across the country.

A123 said Fisker’s Karma received an EPA rating of a 32-mile (51 km) all-electric range and an all- electric range rating of 51.6 miles from Europe’s regulator Technischer Ueberwachungs Verein, clearing the way for vehicle sales.

GM said Oct. 12 that A123 will supply battery packs for its Chevrolet Spark electric subcompact going on sale in 2013.

All of the battery packs will be assembled at A123’s battery plant in Livonia, Michigan.