Chinese firm wins approval to buy US govt-backed A123 -source

Newswire

Jan 29 (Reuters) - China's largest auto parts maker won U.S. government approval to buy A123 Systems Inc, a bankrupt maker of electric car batteries that was funded with U.S. government money, a source familiar with the situation said on Tuesday. A U.S. government committee on foreign investment approved the sale of the lithium-ion battery maker to Wanxiang Group, according to the source, who asked not to be identified because they were not authorized to speak publicly. ...

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