Johnson Controls will purchase the automotive assets of A123 Systems following Tuesday’s bankruptcy filing by the manufacturer of lithium-ion batteries for electric cars. The sale is subject to court approval. Waltham, MA-based A123 will neither cease operations nor proceed with a previously announced plan to sell an 80% stake to Wanxiang Group, China’s largest auto-parts maker, The Wall Street Journal reports. The deal is worth $125 million but is subject to higher offers at ...
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