A123 Systems Inc. announced that it expects to reduce its sales for the full year this year to $165 million to $180 million, compared with previous expectations of $210 million to $225 million.
A123 Systems CEO David Vieau said: "The reason why we lowered our annual sales expectations was mainly because electric vehicle maker Fisker Motors was adjusting its inventory levels, resulting in a reduction in our fourth-quarter battery orders."
David added: “The current production cuts are short-lived because Fisker’s plug-in hybrid model Karma has passed the certification of the U.S. Environmental Protection Agency and the German Institute of Technical Supervision, and can achieve 51.6 miles by all-electric drive. The above certification will be obtained. It will help promote the growth of Karma's sales.
A123 will announce its third quarter financial statements on the 9th of this month.
A123 Systems CEO David Vieau said: "The reason why we lowered our annual sales expectations was mainly because electric vehicle maker Fisker Motors was adjusting its inventory levels, resulting in a reduction in our fourth-quarter battery orders."
David added: “The current production cuts are short-lived because Fisker’s plug-in hybrid model Karma has passed the certification of the U.S. Environmental Protection Agency and the German Institute of Technical Supervision, and can achieve 51.6 miles by all-electric drive. The above certification will be obtained. It will help promote the growth of Karma's sales.
A123 will announce its third quarter financial statements on the 9th of this month.
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