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Chinese company wins bid for US battery maker A123

An A123 Systems Inc. high power Nanophospate Lithium Ion Cell for Hybrid Electric Vehicles battery is displayed in Livonia, Michigan. Bankrupt battery maker A123 Systems Inc. on Sunday, Dec. 9, 2012, said it will sell most of its assets to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for $256.6 million. Wanxiang America Corp. won an auction conducted under the supervision of the U.S. Bankruptcy Court for the District of Delaware. (AP Photo/Paul Sancya, File)

Bankrupt battery maker A123 Systems Inc. on Sunday said it will sell most of its assets to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for $256.6 million.

Posted: December 10th, 2012 in Latest Business Stories | Read More »

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