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
AUGUST 8, 2012
A123 Systems, a developer and manufacturer of advanced lithium-iron phosphate batteries and systems, signed a non-binding memorandum of understanding (MOU) with Wanxiang Group Corporation establishing the framework for a strategic investment through which Wanxiang would invest up to $450 million in A123. million (a decrease of 53% from $36.4
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