Republican Senators Challenge DOE Grants Being Allowed for A123

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Automotive News - August 14, 2012

Repub­li­can Sen­a­tors John Thune and Chuck Grass­ley wrote a let­ter to Ener­gy Sec­re­tary Steven Chu this week ques­tion­ing whether bat­tery-mak­er A123 Sys­tems should receive the rest of its gov­ern­ment grant as the deal comes togeth­er with China’s Wanx­i­ang Group. Corp. invest­ing in A123. This occurred not long after U.S. Rep­re­sen­ta­tive Cliff Stearns, a Flori­da Repub­li­can. Stearns, author of a pend­ing bill intend­ed to pre­vent more sit­u­a­tions like the Solyn­dra scan­dal, said that A123’s financ­ing arrange­ment with Wanx­i­ang rais­es pos­si­ble secu­ri­ty con­cerns.

The pro­posed deal between A123 and Wanx­i­ang has drawn the atten­tion of crit­ics of the Oba­ma administration’s green com­pa­ny invest­ments.

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