You can now read 10 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe


A123 Systems sale still a raw deal to some

Republican senators angered by Chinese firm’s purchase of bankrupt Waltham battery-maker that received millions in taxpayer dollars under Obama

Congressional Republicans Monday criticized the pending acquisition of bankrupt Waltham battery-maker A123 Systems Inc. by a Chinese company, arguing that the deal shows how the Obama administration gambled millions in taxpayer dollars to bolster clean-energy technology that is now in Chinese hands.

Wanxiang America Corp., the North American arm of China’s largest auto parts maker, recently won the court-led auction for nearly all the assets of A123, which filed for bankruptcy protection in October, despite receiving tens of millions in federal and state money. Wanxiang’s $256.6 million purchase awaits approvals from a US bankruptcy judge and a federal committee on foreign investment chaired by Treasury Secretary Timothy Geithner.

Loading comments...

You have reached the limit of 10 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