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Follow Reuters Facebook Twitter RSS YouTube Read China ready to impound EU planes in CO2 dispute 10:37am EDT Police raided wrong Alabama house searching for shooting suspect: FBI 10:17am EDT Zynga shares plummet as Facebook game craze wanes 10:28am EDT Apple takes on Google with own maps, better Siri 5:21am EDT Apple takes on Google with own maps, better Siri 11 Jun 2012 Discussed 134 Wisconsin recall election too close to call after polls close 130 Exclusive: Drones ”inhumane”, dead al Qaeda man’s family says 109 Obama: U.S. economy ”not doing fine”, action needed Watched Syrian rebels seize military base Mon, Jun 11 2012 The Summer from Hell 3: Revenge of the euro - Rough Cuts Thu, Jun 7 2012 Australian court rules dingo did kill infant 32 years ago Mon, Jun 11 2012 A123 says new battery technology to make EVs cheaper Tweet Share this Email Print Related News Renault backs electric cars with free chargers 6:43am EDT A123 Systems to hire up to 400 workers in Michigan Wed, Jun 6 2012 A123 sees "going concern" risk due to steep losses Wed, May 30 2012 Warren Buffett-backed BYD slumps after crash in China Mon, May 28 2012 A123 says fixes battery problem, shares up 12 percent Tue, May 15 2012 Related Topics Tech » Environment » Tue Jun 12, 2012 10:40am EDT (Reuters) - A123 Systems Inc said it has developed a lithium ion battery technology that could eliminate the need for cooling and heating systems and reduce the cost of electric vehicles. The technology, called Nanophosphate EXT, is designed to prolong cycle life at extremely high temperatures and deliver high power even at low temperatures, the company said on Tuesday. "We believe Nanophosphate EXT is a game-changing breakthrough that overcomes one of the key limitations of lead acid, standard lithium ion and other advanced batteries," said David Vieau, Chief Executive of A123 Systems. It will lower the costs and the weight of electric vehicles and can also be used in the telecommunications industry to cut costs at cell tower installations. The announcement comes just days after the company said there was "substantial doubt" about its viability as a business and warned of steep losses over the next several quarters. The losses stem from A123's recall of defective batteries built at its Livonia, Michigan plant. A123 stock is down about 96 percent from the $28 range it used to trade at in 2009. That year, A123 was given a $249 million grant by the Obama administration, and it went public. A123, which developed as a start-up at the Massachusetts Institute of Technology, makes battery for the Fisker Karma, the BMW hybrid 3- and 5-Series cars and GM's all-electric Chevy Spark due in 2013. The company said production of batteries based on the new technology will begin in the first of half of 2013. It will initially make 20 ampere-hour prismatic cells with Nanophosphate EXT. It is also evaluating plans to offer the technology across all its cell products. A123 shares were trading at $1.23, up 18 percent, on Tuesday morning on the Nasdaq. (Reporting by A. Ananthalakshmi in Bangalore; Editing by Sreejiraj Eluvangal) Tech Environment Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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