Wanxiang

DUSTIN WALSH

A name change to 456 as easy as 123? Not quite

12:01 pm U.S. ET | April 23, 2013
On March 22, A123 Systems Incorporated became B456 Systems Incorporated. But confusion followed the announcement and continues to follow the battery maker in the wake of its bankruptcy.... Read More »

 

China's Geely won't make final bid for Fisker stake, report says

8:33 am U.S. ET | March 18, 2013
China's Zhejiang Geely Holding Group will not bid for a majority stake in Fisker Automotive mainly due to the troubled U.S. electric car maker's obligations to the U.S. government, according to two sources familiar with the matter.... Read More »

 

Wanxiang interested in aiding Fisker after A123 purchase

8:04 am U.S. ET | Jan. 31, 2013
Chinese supplier Wanxiang Group, which just won approval to acquire battery maker A123 Systems, said it now wants to help support A123's main customer, Fisker Automotive, the financally troubled plug-in hybrid sports car maker.... Read More »

 

Johnson Controls appeals A123 bankruptcy sale to Wanxiang

3:44 pm U.S. ET | Dec. 17, 2012
Johnson Controls, the lead bidder at the auction for assets of bankrupt A123 Systems, said it is appealing the court decision that gave China's Wanxiang Group approval to buy most of the assets.... Read More »

 

JCI might still pursue A123 if Wanxiang bid is rejected

11:45 am U.S. ET | Dec. 11, 2012
A Johnson Controls executive said his company would still be interested in the automotive assets of bankrupt A123 Systems should a winning auction bid by China's Wanxiang Group be nullified by the United States.... Read More »

 

A123 will not get remaining portion of government grant, U.S. says

3:09 pm U.S. ET | Dec. 10, 2012
The federal Energy Department will not give battery maker A123 the remaining half of its $249 million grant, following the company's high profile bankruptcy and acquisition by a Chinese auto parts supplier, a department official said today.... Read More »

 

China approves Wanxiang plan to buy bankrupt battery maker A123

11:47 pm U.S. ET | Nov. 29, 2012
China's government has approved a plan by Wanxiang Group, a major Chinese auto parts maker, to acquire bankrupt U.S. battery maker A123 Systems, although a deal still hinges on the outcome of an auction next month and U.S. government approval.... Read More »

 

U.S. says A123 sale requires its consent

10:28 pm U.S. ET | Nov. 28, 2012
The U.S. government said bankrupt A123 Systems Inc. cannot be sold without its consent because the battery maker received a $249 million grant from the Energy Department, according to court documents.... Read More »

 

A123 Systems asks for OK of $50 million interim loan from China's Wanxiang

12:23 pm U.S. ET | Oct. 30, 2012
A123 Systems, the bankrupt maker of electric-car batteries, asked a judge to approve a $50 million loan from Wanxiang America, replacing Johnson Controls as the lender for its Chapter 11 case.... Read More »

 

China's Wanxiang may still pursue A123 after bankruptcy filing

2:33 pm U.S. ET | Oct. 17, 2012
The Chinese auto supplier that previously offered to bail out A123 Systems, the electric-car battery maker that filed for bankruptcy protection Tuesday, said it’s still interested in taking over the company.... Read More »

 

THE GREEN SCENE

EV, battery makers turn to China

12:01 am U.S. ET | Aug. 13, 2012
As government support for electrification has waned in the United States, EV and battery makers increasingly are turning to China for investment and manufacturing sites. While doing business there isn't always easy, those companies anticipate steadfast government support and a potentially huge market.... Read More »