A123 Surges on 2-Megawatt China Grid-Stabilization Order
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A123 Systems Inc., a U.S. maker of lithium-ion batteries for electric cars, surged the most in a month after winning a contract to supply a 2-megawatt system to China’s Ray Power Systems Co. to help regulate grid frequency.
A123, based in Waltham, Massachusetts, rose 9.6 percent to 76 cents at the close in New York, the most since June 18. With today’s gain the company has a market value of about $111 million.