You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Republicans assail Waltham battery maker’s deal with China

A Chinese company’s preliminary agreement to invest in A123 Systems Inc. has ignited concerns that China could take control of the struggling Waltham battery maker’s advanced technology and spurred new criticisms by Republicans that the Obama administration squandered billions in stimulus money with investments in risky firms.

A123, which has warned investors that it is running out of cash, won a $249.1 million federal matching grant in 2009 to expand its facilities as part of the administration’s efforts to revive the economy and boost the nation’s clean energy sector. Under a tentative deal announced Wednesday, Chinese conglomerate Wanxiang Group agreed to invest up to $450 million in A123 and could eventually gain control of 80 percent of the company’s stock.

Your comment is subject to the rules of our Posting Policy

This comment may appear on your public profile. Public Profile FAQ

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of