Ex-Military Brass Protest A123 Sale To Chinese Buyer

Law360, Wilmington (November 28, 2012, 2:24 PM EST) -- A group of former top U.S. military brass and industry experts urged the Obama administration Tuesday to scuttle a Chinese company’s bid for bankrupt battery maker A123 Systems Inc., saying the proposed deal could cause “serious harm” to national interests.

In a letter to Treasury Secretary Timothy Geithner, who oversees a committee considering the bid, the Strategic Materials Advisory Council cautioned that A123’s taxpayer-funded lithium-ion battery technology, used in electric vehicles and smart-grid applications, should not fall into the hands of Chinese auto parts giant Wanxiang...
To view the full article, register now.