Battery Currents: Advanced Energy Storage - April 4, 2013

In This Issue:

- Chinese Auto Parts Maker Buys A123 Systems

- Return of ARRA Funds

- Tax Incentives Extended for Battery Maker

- Ford Increases Electric Vehicle Dealers and Pushes Sales

- Michigan Lithium-Ion Battery to Power Electric Boat

- Cobasys Absorbed into New Subsidiary

- Midland Plant Lays off Battery Workers

- Electric Vehicles Plans in China for GM

- Sports Car with Detroit Name (again)

- Annual Battery Show set for September

- Excerpt from Chinese Auto Parts Maker Buys A123 Systems:

After A123 Systems filed for bankruptcy in October a number of companies looked to buy its assets. Now a sale to Wanxiang Group, a Chinese auto parts manufacturer, has been confirmed by the bankruptcy courts despite some concerns in Congress. According to the president of Wanxiang’s fast-growing American subsidiary, Pin Ni, the Chinese company plans to invest heavily in A123 Systems, To allay any national security concerns, the government division was sold to Navitas Systems, an American company. Navitas’ purchase includes: acquiring the A123 Systems Ann Arbor facility, its employees, plus another 11 engineers from A123’s automotive business; patents held by A123 Systems’ government unit; an undisclosed value of government contracts; and the ability to source cells and components from A123...

Please see full Newsletter below for more information.

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Published In: General Business Updates, Energy & Utilities Updates, Environmental Updates, International Trade Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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