A123 Systems BREAKTHROUGH and 2 Auto Stocks in the News
General Motors Company (NYSE:GM): GM CEO Dan Akerson apologized at GM’s annual shareholder meeting for the bad performance of shares since their 2010 IPO. He blames this on the Street’s concerns about Euro losses, pension liabilities, and macro issues. Some shareholders were unsatisfied with this apology and request GM to either issue a dividend or repurchase shares.
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Toyota Motor Corporation (NYSE:TM): The Nikkei reports, as Toyota Motor places its bid for growth on emerging markets, it is challenged by having to morph partners among Japan’s domestic autoparts makers into multinational operators who will “preserve the Japanese auto industry,” says Akio Toyoda. The shares traded up $0.66 (0.87%) recently at $76.25.
A123 Systems, Inc. (NASDAQ:AONE): A123 Systems have developed a new lithium ion battery technology, Nanophosphate EXT, which is capable of operating at all extreme temperatures without needing thermal management. This new technology significantly reduces or eliminates any requirement for heating or cooling systems, which the company anticipates will build new opportunities in the transportation, telecommunication, and other markets. The Nanophosphate EXT technology should enter volume production within the first half of 2013 in A123’s 20Ah prismatic cells. The company may also consider offering this technology across its total portfolio of cell products. The shares traded up $0.41 (39.42%) recently at $1.45.
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