Volume 90 Issue 34 | p. 12 | News of The Week
Issue Date: August 20, 2012 | Web Date: August 16, 2012

Chinese Firm Offers To Invest In Advanced Battery Maker A123

Intellectual Property: Proposed deal for U.S. battery maker raises security concerns
Department: Business
News Channels: Nano SCENE, Materials SCENE
Keywords: batteries, electric vehicles, intellectual property

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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