China approves Wanxiang plan to buy bankrupt battery maker A123

The Chinese government agreed to a plan by local auto parts maker Wanxiang Group Corp. to acquire bankrupt US battery maker A123 Systems Inc. Wanxiang’s plans, however, depend on the results of an auction set in December 2012 as well as the approval
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HughJass - 11/30/2012 2:19:06 PM

+1 Boost

Shocker. Bet the Chinese government also stuffed their pockets with money to ensure the Communist party gets its hands on technology that they'd otherwise have to steal.