Business goes on, and while A123 Systems sank slowly into bankruptcy, that doesn’t mean it’s over. Part of A123 split off as B456 [obviously] so that Wanxiang could liquidate it for the bankruptcy proceedings.
The main part of A123 Systems, now a subsidiary of Wanxiang Group in China, has been relaunched as a technology incubator. A123 Venture Technologies, as a new business model, will accelerate the commercialization of game-changing technologies. “By leveraging our experience and capabilities, our strategic partners can shorten their time to market, while also mitigating risk and minimizing capital expenditures,” said Mujeeb Ijaz, A123 Systems Chief Technology Officer.
As we know, A123 Systems has a lot of experience in trying to bring a new technology to market. Of multiple companies involved with battery and electric vehicle development, Tesla Motors, Coda Automotive, Better Place, A123 Systems, Fisker Automotive, and others, only one has survived. Technology is just one part of the equation and needs to be balanced by a market that’s ready to accept and use it. A123 Systems new role as a technology incubator should be able to help getting new technologies to market without as much investment and risk as the go-it-alone approach.
