Sunday, October 07, 2012

A123 Systems, Obama's Next Solyndra To Be Outsourced?

Just in time for the foreign policy debates we have the following story:

A123 Systems, an electric vehicle battery maker having received a $249.1 million dollar grant from the Obama administration, not to mention $125 million in (Democrat controlled at the time) State of Michigan tax credits and grants, has lost $857 million since it began, and incurred $208 million in losses the first half of this year.

What's the foreign policy angle?

It's about to be sold to the Chinese.

The Detroit Free Press: Chinese firm positioned to acquire U.S.-funded battery maker A123 Systems.

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