POSTS A LOSS: A123 Systems Inc., the maker of batteries for electric vehicles, reported a loss of $82.9 million, or 56 cents per share, compared with a loss of $55.4 million, or 44 cents per share, in the same quarter last year.

LIFELINE: The company also said Wednesday that reached a financing deal with Wanxiang Group Corp., a Chinese auto parts maker. Wanxiang will provide up to $450 million to A123, which help it stay afloat.

STRUGGLING: A123 has not posted a quarterly profit since it went public in 2009.