Now they build batteries too, your tax dollars at work once again, only 240 million. USA! USA! USA! Change you can count on! A123 Systems supplies batteries to customers, including California luxury carmaker Fisker Automotive. The deal with Wanxiang Group -- owned by Chinese billionaire Lu Guanqiu -- also raises the question of whether the manufacturer will be forced to move to China. A representative from A123 Systems did not return a request for comment on the matter. The company was once touted by President Obama as a great example of "what's possible in a clean energy economy." "Truth be told, A123 was looking to build that factory in Asia. But because it received that grant, it chose the state of Michigan for its largest and most innovative plant yet," Obama told reporters at an April 30, 2010, press conference. "And that plant will be one of 30 new plants to go fully operational over the next six years, manufacturing electric vehicle batteries and components right here in the United States of America. "So this is what's possible in a clean energy economy," the president said. The situation with the struggling company is similar to that of Solyndra, a California solar-panel maker that went bankrupt after receiving $535 million in federal loans Read more: http://www.foxnews.com/us/2012/10/1...ikely-headed-toward-bankruptcy/#ixzz29UfFPxFT
