Wanxiang Wins US Gov't Approval to Buy A123 Systems
China's largest auto parts maker won U.S. government approval to buy A123 Systems Inc, a bankrupt maker of electric car batteries that was funded with U.S. government money, a source familiar with the situation said on Tuesday.
A U.S. government committee on foreign investment approved the sale of the lithium-ion battery maker to Wanxiang Group, according to the source, who asked not to be identified because they were not authorized to speak publicly.
Some members of Congress and retired military leaders said the sale to Wanxiang would transfer sensitive technology to China and they asked the U.S. committee to block it.
|<< PREVIOUS||NEXT >>|
blog comments powered by Disqus