The acquisition of A123 Systems Inc. by China-based Wanxiang Group Corp. passed its last official hurdle with the authorization by the US government. The approval comes despite concerns that the A123 Systems deal would expose sensitive energy technology to Chinese authorities.
The sale of advanced battery maker A123 to China's Wanxiang Group could recoup US taxpayer funds. But critics warn the threats to US security outweigh any benefits from the pending sale of A123.
Chinese auto parts maker Wanxiang Group Corp. on Sunday bought A123 Systems, the bankrupt battery maker which supplies Fisker Automotive and others.
Citing national security risks, President Obama has blocked a Chinese company from acquiring wind farms in northern Oregon, according to Consumer Energy Report. The wind farms are situated near a US military base where unmanned drones are tested.