Beleaguered battery maker A123 snapped up by Wanxiang Group

By John Ollett
Published: Wednesday, 12 December 2012

Government contracted business to remain in the US; price tag lower than bailout

Bankrupted, bailed out and beleaguered US lithium-ion battery maker A123 Systems is to be sold to the US arm of Chinese battery and auto parts maker Wanxiang Group for $256.6m.

The government-related parts of A123 will not be sold to China but instead to Navitas Systems, an Illinois, US,...

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