Chinese Still Interested In Buying Bankrupt Volt Battery Supplier

Chinese auto parts maker Wanxiang Group, whose agreement to buy 80% of A123 Systems was voided when Johnson Controls acquired the auto-related assets of the bankrupt battery supplier, said Wednesday it still wants to buy part of the company.

In August, Wanxiang said it would invest $465 million for up to 80% of A123 Systems, but that deal unraveled as A123 slipped into Chapter 11 bankruptcy protection Tuesday.

"Our interest and goal remains the same," Wanxiang America President Pin Ni said in an e-mail.

 

pepito66 - 10/18/2012 11:47:27 AM

+1 Boost

No way, I hope they don't sale anything to them.

Vroooom - 10/18/2012 2:19:34 PM

+1 Boost

Why dont we just go ahead and surrender to the F----ing Chinese? American inovation and technology is the best in the world but we allow other countries to take it from us, copy it, and then sell it to us. Where is Ross Perot when we really need him?