Tag archives for battery technology
Posted by
(2)
Chinese auto parts manufacturer Wanxiang Group agreed to purchase battery maker A123 Systems for $256.6 million Sunday, pending approval from U.S. bankruptcy court and the federal government. A123 makes lithium ion batteries and storage systems for the utility and transportation sectors. The deal ends an ownership roller coaster for the Waltham, Massachusetts-based A123 that began…
Battery Maker A123 Systems’ Bankruptcy by the Numbers
Posted by Josie Garthwaite on October 17, 2012 Battery maker A123 Systems filed for bankruptcy Tuesday, saying that the Milwaukee, Wisconsin-based Johnson Controls would be taking over its automotive operations in a deal valued at $125 million. This past August, A123 had arranged for Chinese auto parts company Wanxiang Group to invest $450 million, but that deal fell apart amid what A123 CEO…
