Sources: Bloomberg, Detroit Free Press
quote: GM announced last August a $43-million investment to prepare the 160,000-square-foot, landfill-free facility for production of lithium-ion battery packs for the Volt and other electric vehicles with extended-range capabilities. The plant is part of a wholly-owned subsidiary of General Motors called GM Subsystems Manufacturing LLC.
quote: Johnson Controls plans to acquire A123’s automotive business assets in a deal valued at $125 million and will provide financing of $72.5 million to support A123’s continued operations, according to the release. A deal to sell a majority stake to a Chinese company fell through, A123 said.
quote: So your saying the govt SHOULD prop up these guys?