May have to sell some nickel stocks and buy some lithium stocks. I do not know any lithium stocks-lol--sugggestions?
Betting on Hybrids
A123Systems introduces next-generation battery for alternative cars.
May 17, 2007
Battery company A123Systems announced on Wednesday that it has introduced lithium-ion cells for use in gas-electric hybrid and plug-in hybrid cars, trucks, and buses – a move that pushes one of the key technologies for alternative vehicles closer to market at a time when gas prices are soaring, and the adverse consequences of a fossil fuel-based economy are on the minds of many U.S. consumers.
But getting Americans to ditch their gas-only Humvees and SUVs for alternatively-powered cars depends on developing the technology to make hybrids and next-generation plug-in hybrids as reliable, safe, and powerful as their gas-guzzling predecessors.
“Battery technology is going to make or break hybrids,” said David Alexander, an automotive systems analyst at ABI Research. “The big application everyone’s waiting for is plug-in hybrids. Having good reliable energy storage is critical to that.”
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Lithium-ion batteries, already used in laptops, cell phones, and power tools, are believed to be the next generation of car battery technology that could unlock the potentially lucrative hybrid and plug-in hybrid market. They are smaller and lighter than the current technology, which uses nickel-cadmium and nickel-metal-hydride cells. A123Systems, which has raised $102 million in funding, is one of a number of startups and larger battery companies that are competing to develop better materials and hammer out the engineering wrinkles.
A123Systems says its technology, which is based on nanophosphate chemistry developed at MIT, packs more energy in a smaller package, lasts longer, and charges more efficiently than competing technologies. Since 2005, the Watertown, Massachusetts-based company has mass-produced lithium-ion cells based on its technology for use in Black & Decker power tools. The new cells, which are larger and higher-energy, are specifically designed for hybrid and plug-in hybrid cars.
General Motors and other car manufacturers are, or will, begin testing the batteries in their hybrid models and plug-in prototypes, A123Systems’ CEO David Vieau said. In particular, the company is working with Cobasys, a joint venture between Chevron Technology Ventures and Energy Conversion Devices, to apply the technology to GM’s plug-in hybrid program. Still, Mr. Vieau said, it will be at least a few years before cars made with these batteries hit the road. In the meantime, A123Systems is taking aim at hybrid owners that want to convert their cars to become plug-ins, having acquired conversion kit-maker Hymotion, based in Concord, Ontario, earlier this month.
But actually using the batteries in cars has its own set of problems. For instance, lithium-ion batteries have a tendency to overheat. “Having a laptop melt in front of you isn’t life-threatening,” said ABI’s Mr. Alexander. “But sitting on a bank of batteries that’s exploding is another thing.”
A a host of companies from big battery makers Sanyo and Panasonic to startups like Reno, Nevada-based Altairnano and publicly-traded Valence Technology in Austin, Texas, are working on solving battery problems.
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