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Battery maker A123 Systems has announced it will be moving away from producing lithium ion batteries for U.S. market electric cars. Instead, said CEO Jason Forcier, the company’s automotive efforts will concentrate on more commonplace and potentially profitable batteries for starter batteries and so-called microhybrids. “We won’t spend too much effort on the EV markets […]

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It looks like the A123 acquisition saga by Shanghai-based Wanxiang Group is coming to an end with today‚Äôs ruling from the U.S foreign investment committee. Wanxiang America Corporation has received approval from the Committee on Foreign Investment in the United States (CFIUS) to complete its acquisition of substantially all of the non-government business assets of […]

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