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BATTERY MAKERS * USA
* DC - Senators question A123 stimulus need. Chinese firm courts U.S. battery maker
Washington,DC,USA -The Detroit News, by David Shepardson -August 15, 2012: -- Two Republican senators have raised questions about whether the Energy Department should release $120 million in stimulus funding to a struggling battery maker that may be acquired by a Chinese company... U.S. Sens. John Thune, R-S.D., and Chuck Grassley, R-Iowa, asked Energy Secretary, Steven Chu, about a recent financing deal for A123 Systems Inc... Last week, Massachusetts-based A123, which employs nearly 800 in Michigan, said it reached a deal with a Chinese auto parts company for an investment of up to $450 million that could keep the company in business. The deal with Wanxiang Group Corp. will allow the Chinese firm to acquire an 80 percent stake in A123... The Energy Department pointed to a White House statement last week that said no funds would be approved for projects outside the USA...
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