Boston-Power signs up a Chinese customer for its electric-vehicle batteries - lithium ion batteries for sale

Boston-Power Inc.
Westborough, a company that produces electric car batteries, announced on Wednesday that it will provide batteries to Beijing electric car companies.
In a press release in Boston
Power said it expects its battery system to be used for hundreds of electric vehicles starting in 2012 and thousands by 2014.
The press release cited data from Pike Research, which concluded that the lithium market
Ion batteries for transportation will grow from $2 billion in 2011 to more than $14 a year.
6 billion to 2017.
BOSTON-once
The power company had hoped to expand in Massachusetts, but after losing $100 million in federal stimulus dollars a few years ago, it abandoned these plans that would benefit China.
By the end of December, Boston-
The company raised $0. 155 billion from Chinese government and private sources to set up a research and development center in Beijing and build a factory in the Shanghai corridor, where it will produce lithium-
Ion batteries for electric vehicles.