Lithium-ion battery maker A123 names Jason Forcier CEO

Dustin Walsh
CRAIN'S DETROIT BUSINESS

Published: October 10, 2013 9:29 am ET
Updated: October 10, 2013 9:36 am ET

Related to this story

Topics Automotive

A123 Systems LLC has named Jason Forcier its new CEO, less than a year after the lithium-ion battery maker was acquired by Chinese supplier Wanxiang Group.

Forcier replaces former CEO David Vieau, who was removed from the position following Wanxiang's buyout of the A123's automotive and grid assets in January. Forcier, who was vice president of A123's automotive business unit before the Wanxiang deal, will now oversee A123's battery cell and transportation sales as well as its global product development and manufacturing operations, the company said in a news release.

Lithium-ion batteries use plastics extensively, including the inner layer of each prismatic cell.

Forcier will also serve on the company's board of directors with Pin Ni, CEO of Wanxiang's U.S. subsidiary Wanxiang America Corp. in Elgin, Ill., and Tom Corcoran, an independent turnaround consultant.

Now headquartered in Livonia, Mich., A123 maintains its plants in Livonia and Romulus, Mich., as well as the former headquarters in Waltham, Mass., which is now its main research and development facility.

Since closing the deal in February, A123 has been in restructuring mode, cutting headcount and lowering operating costs, Forcier said.

A123 expects $200 million in revenue this year and is projecting to break even for the first time in 2015, Forcier said.

Forcier said A123 is expecting to supply 100,000 low-voltage batteries within the next couple of years. It has current contracts with McLaren Automotive, Ferrari SpA and Daimler AG.

"The huge projections on EVs have become much more moderate; and we've seen an evolution of the combustion engine," Forcier said. "Due to fuel regulations in the U.S. and Europe, automakers are forced to improve fuel economy 4 percent to 5 percent a year on a global basis.

A123's existing lithium-ion business continues to supply General Motors Co.'s Chevy Spark, BMW's hybrid 3-, 5- and 7-Series vehicles, and to China automaker SAIC Motor Corp. Ltd. It also supplies lithium-ion batteries to truck makers Daimler, Smith and Tata Motors Ltd.

For a complete version of this story, see Crain's Detroit Business.


Comments

Lithium-ion battery maker A123 names Jason Forcier CEO

Dustin Walsh
CRAIN'S DETROIT BUSINESS

Published: October 10, 2013 9:29 am ET
Updated: October 10, 2013 9:36 am ET

Post Your Comments


Back to story


More stories

Image

Automakers look under the hood for the next lightweighting opportunities

August 20, 2014 1:06 pm ET

The automotive industry's current favorite target for lightweighting efforts is the powertrain, according to a recent survey.    More

Image

Cooper-Standard JV to focus on Asia

August 20, 2014 10:17 am ET

Cooper Standard Automotive Inc. is forming Cooper Standard Inoac Pte. Ltd. — a joint venture with Inoac Corp. of Japan — to expand the...    More

Image

Ohio molder sold to private equity firm

August 19, 2014 5:23 pm ET

Private equity firm TVV Capital of Nashville has acquired injection molder Design Molded Plastics Inc. for an undisclosed price.    More

Image

Germany's Bolta building $50 million plating plant in Alabama

August 19, 2014 2:21 pm ET

A German company is setting up a plastics chrome plating plant in Tuscaloosa, Ala.    More

Image

RTP expands very long fiber thermoplastic production to Mexico

August 19, 2014 9:47 am ET

RTP Co. has introduced very long fiber reinforced compounds at its Monterrey, Mexico, facility.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events