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A Chinese firm has agreed to acquire most of the assets of bankrupt electric vehicle battery maker A123 Systems Inc.

for $256.6 million, the company said Sunday.

Wanxiang Group Corp. will buy nearly all of Waltham, Mass.-based A123's automotive, electric grid and commercial business assets, including Michigan, Massachusetts and Missouri facilities.

Woodridge, Ill.-based Navitas Systems has agreed to buy A123's Ann Arbor-based government business, including all U.S. military contracts, for $2.25 million.




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Congratulations! We Just Sold Off US Battery Technology and Military Contracts To The Chinese

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