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A123 Auto Assets to Johnson Controls

October 17, 2012 in batteries, Companies, EVs by Rich Piellisch  |  No Comments

Nanophosphate Lithium Developer Files for Voluntary Chapter 11

A123 Systems, the Massachusetts developer and manufacturer of Nanophosphate brand lithium iron phosphate batteries, said Tuesday that it is selling its automotive assets and technology to Johnson Controls, Inc. via a $125 million transaction that includes $72.5 million in debtor-in-possession financing by JCI for A123 to continue operations.

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