A123 Systems files for Chapter 11 protection, pledges to sell business to Johnson Controls
The political backlash to A123's deal with China's Wanxiang Group is one of the reasons behind the distressed sale of its operations
Lithium-ion battery producer A123 Systems, a company spun-out of the Massachusetts Institute of Technology (MIT), filed for Chapter 11 bankruptcy protection yesterday, according to reports from Bloomberg.
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