Sure we’re saving our pennies to buy a Chevy Volt, the economy is sputtering, and GM just lost $3.3 billion this quarter.
But wouldn’t it be great to tap into that future $30 billion lithium-ion automotive battery market?
The news li-ion battery investors out there have been waiting for is starting to trickle in.
Watertown Massachusetts battery-maker A123 Systems, the GM Volt partner who we just discussed in the last post, is reportedly about to file for their IPO according to a blog post citing inside sources.
A123 has already raised over $132 million in venture funding and reportedly have “essentially completed” their IPO filing. We are told the S-1 should arrive at the SEC within a month, and that the “road show” may take place in September. Goldman, JPMorgan and Merrill have been chosen as the bankers.
Expected value $1 billion.
Could this be another Google? Your guess is as good as mine.
This entry was posted on Wednesday, April 30th, 2008 at 6:55 pm and is filed under Financial, Original GM-Volt Interviews. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.