Technology Leaks to China
Looks like a Chinese company might be buying up battery manufacturer A123.
From the
Los Angeles Times:
Auction of battery maker A123 Systems raises concern
The auction of battery-maker A123 Systems Inc., scheduled for Thursday, is expected to draw both U.S. and foreign bidders against the backdrop of growing pressure from military leaders and politicians to block U.S.-funded technology from being transferred outside the country � especially to a Chinese-affiliated company.
Two of the major players keen on acquiring A123's assets are Johnson Controls Inc. of Milwaukee, and Wanxiang Group Corp., a Chinese auto parts maker whose North American headquarters is in Elgin, Ill.
Johnson Controls, which was awarded $299 million in federal grants, has said A123's technology is in its early stages and will require further funding but that the company is committed to adding jobs in the U.S. It describes itself as "one of the last standing American companies competing in and building this U.S. advanced battery industry."
Meanwhile, a coalition of former U.S. military leaders and industry experts urged the Committee on Foreign Investment in the U.S. to thwart Wanxiang's bid in a Nov. 27 letter: "Aside from the national security risk, American taxpayers should not pay for development of a technology that is freely transferred to a non-allied nation."
Not to worry says this moke:
But some, such as Charles Gassenheimer, a former executive with companies involved in the electric car industry, believe that has already happened.
Last week, Gassenheimer was in Washington lobbying for Wanxiang. He had been chairman of electric car maker Think and chief executive of battery-maker Ener1, both of which were snapped up out of another bankruptcy by Boris Zingarevich, a Russian businessman. Both Ener1 and Think had also been nurtured by the Energy Department and state and local government funding. Ener1's biggest investor other than Zingarevich is Wanxiang, which has a joint venture with the battery-maker to co-manufacture lithium-ion energy storage systems for the Chinese market.
So Charlie Gassenheimer was CEO of an electric car company that tanked and was sold (presumably for pennies on the dollar) to the Russians and here he is in Washington lobbying to do the same thing for another company?
Didn't
Barry say
something about
ending the
revolving door
between government
and lobbyists.
Yeah -- me neither...
Posted by DaveH at December 6, 2012 10:21 AM