Wanxiang Group Company, Wanxiang A123, a well-known lithium battery brand from the United States, its lithium-ion energy storage solutions are well-known in the industry, on January 28, 2013, Wanxiang Group acquired the United States A123 System Company
A123's advanced lithium-ion energy storage solutions enable higher performance and higher efficiency in automotive applications. Our wide range of products are optimized to exceed the energy and power requirements set by leading automotive manufacturers, and the A123 is ready to provide a complete and competitive solution for the entire transportation market. Our proven engineering expertise and extensive knowledge of electric drive technology enable us to work closely with our automotive customers to deliver solutions that not only meet the needs of today's market, but also those of tomorrow. The A123 serves many of the world's leading automakers and continues to nurture new partnerships every day.
A123 Systems, Inc. (NASDAQ: AONE) is an American company specializing in the development and production of lithium-ion batteries and energy storage systems. The lithium-ion batteries provided by the company are ahead of the lithium-ion battery market with long life, high energy density, high power, and excellent safety. Its technologies are targeted at next-generation transportation, power grid, and consumer applications. As a benchmark enterprise in the clean energy vehicle industry, A123 Systems has not only received substantial funding from the U.S. government, but also established supply contract relationships with many mainstream automobile manufacturers.
On January 28, 2013, in Washington, D.C., the Committee on Foreign Investment in the United States (CIFUS) officially approved the acquisition of A123 Systems (hereinafter referred to as "A123") by Wanxiang Group (hereinafter referred to as Wanxiang).On the second day local time, Wanxiang and A123 completed the acquisition and delivery. So far, this acquisition case, which lasted more than five months, has finally been successfully completed. On December 28, Wanxiang defeated the joint bid of Johnson Controls of the United States and NEC of Japan in the bankruptcy auction of A123 for $256.6 million, and successfully auctioned all the company's assets except for the government and military business.
On March 28, 2013, A123 filed a document with the U.S. Securities and Exchange Commission (i.e., the Securities and Exchange Commission), announcing the name change to B456 Systems Inc. and explaining the reason for the name change.
