Chinese Firm Could Buy Mass. Battery Maker
DAVID GREENE, HOST:
NPR's business news starts with a controversial battery buy.
(SOUNDBITE OF MUSIC)
GREENE: A Massachusetts-based company called A123 Systems could be purchased today by a Chinese firm, that is if a bankruptcy judge signs off on the deal. A123 makes batteries for electric cars, among other things. Before it declared bankruptcy, the company got a lot of federal stimulus money, some $100 million to build a factory and do research. Even though a Chinese company bid twice as much is the nearest American competitor to take over A123, some members of Congress don't like the idea of a Chinese firm benefiting after U.S. taxpayers invested. Transcript provided by NPR, Copyright NPR.