New York: US battery maker A123 Systems, which got a quarter-billion dollar green technology grant from the Obama administration, said on Wednesday that a Chinese auto parts maker is looking to take a controlling stake in the faltering company. China’s Wanxiang Group Corp plans to invest up to $450 million, A123 said, and give the manufacturer the cash injection it needs to keep making batteries for electric and hybrid cars.
US battery maker’s rescue by China
US battery maker A123 may be rescued by Chinese group