A123 Systems fka AONEQ

[Tommy105]

Who will be the winner of the bidding war, anyone want to bet?

While critics point to the lack of production at local battery factories, JCI isn’t pulling out but instead is diving even more deeply into the business. The company announced this week it had reached an agreement with A123 to buy all its lithium-ion battery assets, including two Michigan factories, for $125 million. Then, according to wire service reports, the Chinese auto parts maker Wanxiang Group said it would go to bankruptcy court to try to top JCI’s bid. The news came the same week General Motors announced it would start production on a hybrid Cadillac, the Cadillac ELR, late next year.

Go, AONE!