Chinese Company May Still Pursue A123 After Bankruptcy Filing

Chinese Company May Still Pursue A123 After Bankruptcy Filing

Jeffrey Sauger/Bloomberg

Machines are used to fabricate batteries at the A123 Systems lithium ion automotive battery manufacturing plant in Livonia, Michigan. A123, the recipient of a $249 million federal grant, said that it scrapped the previous agreement with Wanxiang as it filed for bankruptcy protection and agreed to sell its automotive business assets to Johnson Controls.