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Chinese Auto Parts Maker Buys A123 Systems

After A123 Systems filed for bankruptcy in October a number of companies looked to buy its assets. Now a sale to Wanxiang Group, a Chinese auto parts manufacturer, has been confirmed by the bankruptcy courts despite some concerns in Congress. According to the president of Wanxiang’s fast-growing American subsidiary, Pin Ni, the Chinese company plans to invest heavily in A123 Systems, “We are committed to making the long-term investments necessary for A123 to be successful.” To allay any national security concerns, the government division, was sold to Navitas Systems, an American company. Navitas' purchase includes: acquiring the  A123 Systems Ann Arbor facility, its employees, plus another 11 engineers from A123's automotive business; patents held by A123 Systems' government unit; an undisclosed value of government contracts; and the ability to source cells and components from A123. Customers include the Department of Defense, Department of Energy and Department of Homeland Security.

© 2022 Varnum LLPNational Law Review, Volume III, Number 66
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About this Author

Bruce Goodman, Environmental lawyer, Varnum
Counsel

Bruce practices energy law, environmental law, and construction law. His energy background includes negotiating electric power sales agreements (both for wholesale sellers of energy and for retail consumers of energy) state electric rate cases, developing municipal energy tariffs, and energy project structuring and permitting. For years, he published a blog focused on alternative energy developments in Michigan. Most recently he has been involved in various alternative energy projects, including wind energy, biofuels and solar projects.

His environmental experience includes air...

616-336-6574
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