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About The Pulse

The Pulse provides the opinions, insight and other musings of the A123 Systems brain trust, offering thoughts about a wide variety of topics, including battery technology, electric transportation, grid energy storage, energy policy and more.

And we want you to participate by commenting on our posts to add your own views (just remember that we are moderating your comments so please play nice!). Thanks for reading!

Contributors

Andy Chu

Andy Chu, Ph.D., is the former vice president of marketing & communications at A123 Systems.

Angela Duren

Angela Duren is the low-voltage product manager for the Automotive Solutions Group at A123 Systems. 

Jeff Kessen director of product marketing with Automotive Solutions Group A123 Systems (2)Jeff Kessen is the director of global marketing for the Automotive Solutions Group at A123 Systems.  

Bill Mitchell vice president, business development A123 Systems headshotBill Mitchell is vice president of Sales and Marketing at A123 Energy Solutions.

Roger LinRoger Lin is director of product marketing at A123 Energy Solutions. 

A123pulse

Peddling the Thoughts, Opinions and General Musings of the A123 Systems Brain Trust

 

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Wanxiang Group Corporation: China's Largest Automotive Components Manufacturer

This morning, A123 announced that we have signed a a non-binding memorandum of understanding (MOU) with Wanxiang Group Corporation that establishes the framework for a strategic agreement through which Wanxiang would invest up to $450 million in A123. While we are still negotiating definitive documents and there are a number of conditions and approvals that must be met to execute the various components of the proposed financing agreement, this is exciting news for A123 . We believe a substantial capital investment from Wanxiang would not only provide financial stability to A123 as we continue to grow, but it would also align us with a large, successful global brand in the automotive and cleantech industries. 

But who is Wanxiang Group?

For one, Wanxiang is China's largest automotive components manufacturer and one of China's largest non-government-owned companies. Wanxiang has more than $13 billion in revenue and more than 45,000 employees globally (including more than 3,000 in the U.S.). Wanxiang has a strong track record of partnering with and investing in U.S. companies, including in the automotive and cleantech space. Check out this video about Wanxiang's global strategy and its U.S. footprint, and you'll see why we think an investment agreement with Wanxiang makes financial and strategic business sense for A123: 

 




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