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Keyword: wanxiang
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NASDAQ Delisting Threat Jeopardizes Chinese Rescue of A123 Systems
Two weeks ago the mainstream and clean tech advocacy media proclaimed that taxpayer-subsidized, failing electric vehicle battery maker A123 Systems would be saved by a deal with a Chinese company. Since then the Massachusetts-based manufacturer’s stock price sank below what had been its previous low of 44 cents. This morning it is down to 38 cents, and yesterday the company received a delisting notice from the NASDAQ. So what happened? There could be several reasons why the recipient of hundreds of millions of U.S. stimulus dollars hasn’t impressed Wall Street with its pending bailout from Wanxiang Group. The deal is...
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