Issue Date: August 20, 2012 | Web Date: August 16, 2012
Chinese Firm Offers To Invest In Advanced Battery Maker A123
A123 Systems, a financially struggling maker of lithium iron phosphate batteries, is in talks with the Chinese auto parts maker Wanxiang Group about a deal in which the Chinese firm would invest up to $450 million in A123 in exchange for an 80% ownership stake.
The deal is likely to be opposed by some U.S. lawmakers, one of whom notes that A123 built an advanced-technology battery plant in Michigan . . .
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