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A123 Systems and Wanxiang execute definitive agreements for investment of up to $465M in A123

Green Car Congress

A123 Systems expects the full investment from Wanxiang will provide it with the capital necessary to strengthen its competitive position in the global vehicle electrification and grid energy storage markets. Further, Wanxiang has demonstrated its commitment to partnering with and investing in U.S. — David Vieau, CEO of A123.

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A123 Systems in non-binding MoU with Wanxiang for strategic investment of up to $450M; Wanxiang would own up to 80% of A123 common stock

Green Car Congress

Wanxiang’s proposed investment in A123 is intended to create the capital structure necessary for the company to continue growing its core businesses, and alignment with Wanxiang is also expected to substantially strengthen A123’s access to the growing vehicle electrification and grid-scale energy storage markets in China.

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USDOT awarding $55M to support purchase of Low-No buses; electric buses and infrastructure

Green Car Congress

Connect Transit will receive funding to replace diesel buses used in fixed route service with zero-emission, 40-foot, battery electric buses. Connect will install solar power panels at an existing maintenance facility to support the electric bus deployment and reduce the costs associated with charging the buses. New Jersey Transit.

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