Congratulations! We Just Sold Off US Battery Technology and Military Contracts To The Chinese

A Chinese firm has agreed to acquire most of the assets of bankrupt electric vehicle battery maker A123 Systems Inc. for $256.6 million, the company said Sunday.

Wanxiang Group Corp. will buy nearly all of Waltham, Mass.-based A123's automotive, electric grid and commercial business assets, including Michigan, Massachusetts and Missouri facilities.

Woodridge, Ill.-based Navitas Systems has agreed to buy A123's Ann Arbor-based government business, including all U.S. military contracts, for $2.25 million.



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pepito66 - 12/10/2012 11:27:17 AM

+1 Boost

Really really embracing , what else.

dlin - 12/10/2012 3:18:14 PM

+1 Boost

Time to stop free trading and globalization crap.
But would you believe a company that has leading edge or military contract will go bankrupt? Something stinking here.

Agent009 - 12/10/2012 4:29:51 PM

+3 Boost

I am not as concerned about going bankrupt as that we invest a hundreds of millions to be competitive in a sector, just to see all of the research to go another country. It seems like they never should have been allowed to bid on it to begin with.

Holydude - 12/10/2012 1:26:18 PM

-4 Boost

009, what's with inflammatory titles? So what if it's sold to the Chinese? You have something against them, or do you want to tell all your Chinese readers to f*ck off as well? This is an auto site, not the damn FOX network (although I am guessing you'd enjoy watching that POS channel)

Agent009 - 12/10/2012 2:36:58 PM

+4 Boost

Basically you just funded a leg up to the Chinese on a mission critical automotive technology and direct contract to the military. They have a stellar track record of ignoring patents.

Actually if you think about it, you should be outraged.

LexSucks - 12/12/2012 10:45:50 AM

-1 Boost

009, You ever think for a second, that the reason why no one replies to any of the threads here anymore, is because of threads like this? This is an automotive site. Not freaking FOX news. There was a time when the number of replies to threads here rivaled "Autoblog.com". Not anymore... That was before you started posting political crap here.

MBCLS07 - 12/10/2012 2:27:59 PM

+4 Boost

Holydude, are you unaware that US taxpayers have given this company hundreds of millions of dollars in funding (aka "corporate welfare" for you Obama disciples)?

Are you equally ignorant of China's relentless efforts to steal US technology in order to build their military and industrial capabilities to rival and surpass those of the US?