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U.S. Battery Maker in Financing Deal With a Chinese Firm
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mtripoli
Just what the American taxpayers want to hear; technology funded by tax dollars ...
DETROIT — A123 Systems, a government-backed maker of batteries for electric vehicles, said Thursday it had reached a final agreement with a Chinese company that will provide emergency capital and eventually acquire a controlling stake.
The deal with the Chinese company, the Wanxiang Group, one of China’s biggest auto suppliers, is considered crucial to the survival of A123, a centerpiece of the Obama administration’s efforts to support battery manufacturing in the United States.
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mtripoli
8/20/2012 3:03 PM EDT
Just what the American taxpayers want to hear; technology funded by tax dollars bought by the Chinese. Just one more way we're getting bent over...
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