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Battery manufacturer A123 Systems Inc is facing pushback in its bankruptcy case because of a $249 million grant it received from the US Department of Energy. The company filed for Chapter 11 bankruptcy last month, hoping to restructure. According to Reuters, Johnson Controls Inc. of Milwaukee and China’s Wanxiang Group Corp will make offers to purchase A123, which makes lithium ion batteries for electric cars. Two of A123’s battery manufacturing plants located in Michigan were paid for with the help of a $249 million government grant from stimulus funds. According to Reuters, the “prospect of a U.S. government-financed company being sold to a Chinese rival has drawn opposition from some politicians, who say technology underwritten by U.S. taxpayers should not fall into foreign hands.” Two weeks ago, the federal government objected to the company’s proposed sale, saying “approval was needed before the government’s clean energy grant could be assigned to a buyer.” Kevin D. Judd Law Firm of Kevin D. Judd
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