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Auction of A123 Systems Begins With Four Contenders

American battery manufacturer A123 Systems, the company which, among other things, makes the battery pack for the Fisker Karma, went bust last month. Now, several companies have offered to step in and buy what’s left. Today, the four companies interested in acquiring A123 have begun placing bids.
A123 Systems 1 photo
The four companies are Johnson Controls Inc., from Milwaukee, Wanxiang Group Corp., from China, NEC Corp. from Japan, and finally Siemens AG, from Germany. The last two companies did not want to comment on the matter, while the first two have made their intention of purchasing A123 a very public matter. Aside from the large chunks of the company, there are reportedly many smaller companies looking to buy off some smaller pieces of the company, as well.

However, the auction could be a rather lengthy one, and it may even run into next week, as according to an inside source quoted by autonews.com, "It's not like we're bidding on gas stations." Also, the value of the bids is expected to grow, during this period, and from the $125-million offered by Johnson Electronics, the only way is up.

 
 
 
 
 

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