A123 Systems fka AONEQ

[Tommy105]

Dan Borgasano of A123 says working closely on the final agreement.
A123 Systems says the deal is in the best interest of its shareholders, its employees, and its technology. Being majority-owned by a large Chinese conglomerate gives it better access to the Chinese market for electric vehicles (see "What Happened to A123?"). Money from the Department of Energy, half of which has been spent so far, can still be invested only in U.S.-based assets. "We're confident in Wanxiang's commitment to the U.S. We think they will continue to grow our operations here," says A123 Systems' marketing manager, Dan Borgasano. "We think it's a positive outcome."