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Wanxiang Group granted approval to buy A123 Systems


China's largest auto parts manufacturer won U.S. government approval to buy A123 Systems, a bankrupt maker of electric car batteries that was funded with federal money. According to a source familiar with the situation cited by Reuters, a U.S. government committee on foreign investment approved the sale of the lithium-ion battery maker to Wanxiang Group. The approval was granted although some ...
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