A123 Systems fka AONEQ

[Tommy105]

In an e-mail, the Energy Department said it was “currently reviewing” a letter sent by two Republican senators, John Thune of South Dakota and Charles E. Grassley of Iowa, objecting to the investment. The e-mail contained remarks attributed to a “senior administration official” who said the battery maker “had not provided any communications regarding any impact to our grant or requests to change the use of grant money, and D.O.E. will continue to monitor the situation closely.”

Mr. Borgasano reiterated the Energy Department’s contention that the $120 million in federal funds could “only be used for building manufacturing facilities and creating the associated jobs here in the United States. It cannot and will not be used for anything else,” he said.

Wanxiang, he added, had “a successful track record of partnering with U.S. companies and helping them increase their market share.”


For more:
http://wheels.blogs.nytimes.com/2012/08/17/investment-from-china-places-a123-systems-on-the-defensive/