Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

NEC to Buy A123’s Grid Energy Storage Business From Wanxiang

Don't Miss Out —
Follow us on:

March 24 (Bloomberg) -- NEC Corp., a Japanese maker of computers and telecommunications equipment, will acquire the grid energy storage business of A123 Systems LLC from China’s Wanxiang Group Corp. for about $100 million.

A new company, NEC Energy Solutions, will begin operations in June, Tokyo-based NEC said in a statement today. A123 will continue to operate its other units, which deal in battery manufacturing and sales, research and development and automotive operations. Wanxiang Group bought the company in January 2013.

NEC also plans to set up a joint venture with Wanxiang to develop an energy storage business in China, according to the statement.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at

To contact the editors responsible for this story: Reed Landberg at Jason Rogers, Indranil Ghosh

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.