Wanxiang Group
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Wanxiang Group Corporation is a Chinese multinational automotive components manufacturing company headquartered in Hangzhou, Zhejiang province, China. It is the largest China-based automotive components company measured by revenues.
On October 16, 2012, A123 Systems had filed for bankruptcy protection under Chapter 11, Title 11, United States Code. Wanxiang won an auction for the bankrupt lithium-ion battery maker in December 2012, for a closing price of US$256.6 million. A123 Systems had more than 3000 employees as of that date.
Subject ID: 80265
MoreWanxiang Group Corporation is a Chinese multinational automotive components manufacturing company headquartered in Hangzhou, Zhejiang province, China. It is the largest China-based automotive components company measured by revenues.
On October 16, 2012, A123 Systems had filed for bankruptcy protection under Chapter 11, Title 11, United States Code. Wanxiang won an auction for the bankrupt lithium-ion battery maker in December 2012, for a closing price of US$256.6 million. A123 Systems had more than 3000 employees as of that date.
The Committee on Foreign Investment in the United States (CFIUS) granted its approval and on January 28, 2013, Wanxiang Group's Chicago-based subsidiary, Wanxiang America purchased the preponderance of A123's assets out of bankruptcy for US$256.6 million and organized a new company, similarly-named A123Systems, LLC.
Subject ID: 80265
Subject ID: 80265
