![Wanxiang Gets Final Approval to Buy A123 Systems 123building 620 Wanxiang Gets Final Approval to Buy A123 Systems](http://www.plugincars.com/sites/default/files/123building-620.jpg)
The decision on whether or not the Chinese firm would secure the deal was under scrutiny by the U.S. government, which feared that vital technology would be released to China. The deal did not include included A123 System’s defense contract, as they were sold separately to U.S.-based Navitas Systems. A123 Systems was awarded a US government grant of $249 million to help with construction of lithium ion battery manufacturing facilities in the United States.
Automotive battery maker Johnson Controls was among the list of bidders trying to purchase A123 Systems.
A123 filed for bankruptcy protection in October, in part due to weak demand for plug-in vehicles.
read more
No comments:
Post a Comment