Chinese firm wins A123 despite US technology fears

China’s largest auto parts maker won US government approval to buy A123 Systems Inc, a maker of electric car batteries, despite warnings by some lawmakers that the deal would transfer sensitive technology developed with US government money.

The sale of the lithium-ion battery maker to a US unit of Wanxiang Group was approved by a US government committee on foreign investment, according to a statement from the Chinese company. The companies later said the deal had been completed.

via Business feed http://www.scmp.com/business/companies/article/1139153/chinese-firm-wins-a123-despite-us-technology-fears