Bankruptcy Court Allows Chinese Inroad Into Volt Battery Maker

A123 Systems Inc., the bankrupt maker of electric-car batteries that received a $249.1 million federal grant, won court approval to borrow $50 million from China's Wanxiang Group Corp.

U.S. Bankruptcy Judge Kevin Carey gave interim approval for the loan Monday in Wilmington, Del.

Wanxiang replaced Johnson Controls Inc. as the lender for A123's Chapter 11 case.

Read Article

HughJass - 11/8/2012 2:49:03 PM

+1 Boost

4 more years! His masters in Beijing demanded payment, he provided payment, or else his brother ain't getting any tonight.

wins555 - 11/8/2012 9:37:04 PM

+1 Boost

Money ain't free.