NEW YORK The Committee on
Foreign Investment in the United States (CFIUS) has given the
go-ahead for Wanxiang America Corp. to acquire A123 Systems
The Jan. 29 ruling follows an
official appeal from Johnson Controls Inc. (JCI), which cited
numerous "national security questions tied to the core
technology used in all of A123s business" in its
amm.com, Dec. 18).
Waltham, Mass.-based A123, a
developer and manufacturer of advanced lithium-ion batteries
and energy storage systems for transportation, electric grid
and lead-acid replacement applications, owns 91 patents for
military and space battery technology.
"We are excited to add A123
Systems to our growing portfolio of companies as we continue to
expand on our strategy of investing in the automotive and
clean-tech industries in the U.S.," said Pin Ni, president of
Wanxiang America, a subsidiary of Hangzhou, China-based
Included in the investment are
A123s automotive, grid and commercial business assets,
including technology, products, customer contracts and U.S.
facilities in Michigan, Massachusetts and Missouri; its
manufacturing operations in China; and its equity interest in
Shanghai Advanced Traction Battery Systems Co.
Excluded from the sale is
A123s government business, including contracts with the