Joe Walicki is betting $780 million that Tesla’s high-tech, electric-vehicle battery gigafactory in Nevada does not represent the future of the auto battery business.
That’s how much Johnson Controls Inc. is spending to expand its global production of absorbent glass mat batteries, an improved lead-acid battery optimized for vehicles with stop-start systems.
While AGM batteries cost twice as much as conventional lead-acid batteries, they are durable enough to restart a vehicle’s engine dozens of times a day as it idles in traffic and at red lights.
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