Chinese Automaker Makes Bid For A123

Reuters reported a Chinese automaker bid $465 million bid for bankrupt A123 Systems Inc. (NASDAQ:AONE).

As quoted in the market news:

The Hangzhou-based company supplies auto-component and lithium-ion battery technology.

His comment came a day after A123 Systems, which won a $249 million U.S. government grant in 2009 for jump-starting its business, filed for bankruptcy.

Click here to read the full Reuters report.