Automotive News China reports that battery maker A123 Systems won a contract worth approximately $1 billion to supply 2.6 million Li-ion batteries for 48 V systems to the SAIC-GM joint venture in China.

A123 initially entered into a partnership with SAIC Motor in 2009 with the formation of a battery pack joint venture called Advanced Traction Battery Systems, company. The two companies expanded their partnership in 2012.

Source: Automotive News China