Troubled Cleantech Companies Find Salvation in ChinaBy
Troubled electric-car battery maker A123 Systems, which used a $249 million grant from the U.S. government to build a Michigan factory, is getting rescued by China’s largest auto parts maker in a proposed deal that would give Wanxiang Group an 80 percent stake. It’s only the latest in a series of distressed U.S. cleantech companies snapped up by Chinese investors, and it’s unlikely to be the last.
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