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Wanxiang Group has insisted A123 Systems will remain an American company operationally following intense scrutiny from US lawmakers. China's largest parts manufacturer purchased A123 Systems at auction after the company fell into insolvency, but the battery maker holds a number of defense ...
The Detroit News reports that China's Wanxiang Group Corporation will acquire almost all of bankrupt A123 Systems Inc. for $256 million. The deal includes all of the American battery manufacturer's grid and commercial business assets as well as the company's facilities in Michigan, Massachusetts ...