You can now read 10 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe


Cash-fueled climb led to fall of A123 Systems

Waltham battery maker found no niche

In the fall of 2009, Governor Deval Patrick joined chief executive David Vieau on a tour of what was perhaps Massachusetts’ hottest company: A123 Systems Inc.

The Waltham battery maker had just raised $380 million in an initial public offering as investors shrugged off the recession and drove the stock 50 percent above the company’s initial pricing. Nearly $400 million in government grants, loans, and tax incentives were already rolling into the company on the promise of a technology that could help transform the nation’s flailing auto industry into a leader in electric cars.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week