Wanxiang Group

Ex-battery maker B456 wins court approval for bankruptcy plan

3:19 pm U.S. ET | May 20, 2013
B456 Systems, the bankrupt electric-car battery maker formerly called A123 Systems, won court approval of a plan to exit bankruptcy that pays creditors from the proceeds of selling virtually all its assets.... Read More »

 

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 »

 

Former A123 battery maker's settlement with Fisker approved

12:19 pm U.S. ET | April 17, 2013
B456 Systems, the bankrupt electric-car battery maker formerly called A123 Systems, received approval of a settlement with Fisker Automotive, reducing its claims by 89 percent to $15 million.... 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 »

 

Why Chinese supplier exec scares America

12:01 am U.S. ET | Feb. 4, 2013
Pin Ni, president of auto parts behemoth Wanxiang America Corp., does not conjure the image of a conqueror. He is small in stature and boyish in appearance, his salt-and-pepper hair the only betrayal of his 48 years. He's also quick to admit he is not always right. And even when he is, he'd rather not fight about it.... Read More »

 

FINAL ASSEMBLY

China said to set its sights on EV players

12:01 am U.S. ET | Feb. 4, 2013
China's official enthusiasm for electric vehicles has Chinese companies looking for acquisitions that could help feed the country's EV frenzy -- should it actually occur.... 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 »

 

Chinese firm wins A123 despite U.S. tech transfer fears

12:03 pm U.S. ET | Jan. 29, 2013
China's largest auto parts maker won federal government approval to buy A123 Systems, a bankrupt maker of electric car batteries that was funded with government money, the Chinese company said today.... Read More »

 

Wanxiang seeks to allay A123 bid concerns amid political opposition

4:01 am U.S. ET | Dec. 21, 2012
A senior Wanxiang Group executive stressed A123 Systems, at the center of an American political storm after the Chinese firm won an auction for the electric car battery maker, would operate as an American company. And those close to the deal say they believe national security concerns are overblown.... 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 »

 

Court OKs sale of U.S. government-backed A123 to Chinese firm

6:52 pm U.S. ET | Dec. 11, 2012
China's largest auto parts maker received court approval on Tuesday for its controversial purchase of A123 Systems Inc., a bankrupt maker of electric car batteries, but the judge said he was troubled that a U.S. rival might be working to kill the deal.... Read More »

 

Fisker won't restart production until A123 sale clears

6:35 pm U.S. ET | Dec. 11, 2012
The short-term future of Fisker Automotive could hinge on the outcome of Chinese auto parts maker Wanxiang's controversial quest to acquire bankrupt U.S. battery maker A123 Systems.... 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's Wanxiang wins auction for U.S.-backed A123

8:32 pm U.S. ET | Dec. 8, 2012
China's largest maker of auto parts won a politically sensitive auction for A123 Systems, a bankrupt maker of batteries for electric cars that was funded partly with federal government money, the investment banker for A123 said on Saturday.... 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 »

 

JCI and China's Wanxiang to square off in A123's bankruptcy auction

3:52 pm U.S. ET | Nov. 8, 2012
An American and a Chinese auto parts maker will face each other on December 6 in an auction to buy A123 Systems, a bankrupt maker of batteries for electric cars that was partly funded by the federal government.... Read More »

 

A123 Systems secures $50 million bankruptcy loan from Wanxiang

12:01 am U.S. ET | Nov. 6, 2012
A123 Systems, the bankrupt maker of electric-car batteries, won court approval to borrow $50 million from China's Wanxiang Group.... Read More »

 

U.S. senators seek thorough review of Chinese bid for A123

3:51 pm U.S. ET | Nov. 2, 2012
Two Republican senators asked Treasury Secretary Timothy Geithner for a thorough review of a Chinese company's plan to acquire bankrupt battery maker A123, saying military and taxpayer-funded technology must be protected.... 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 »

 

A123 says funding from China's Wanxiang will preserve U.S. jobs

5:49 pm U.S. ET | Aug. 9, 2012
A123 Systems' CEO said the company's financial rescue by China's largest auto-parts maker will preserve U.S. jobs, after the agreement drew criticism from a member of Congress. A123, a maker of lithium ion batteries for electric cars, may get financing worth as much as $450 million from Wanxiang Group. The possibility of A123 being bought by a Chinese company may fuel further political debate over government financing of alternative-energy and transportation businesses.... Read More »