Wanxiang may help supplier of recent buyout target


Wanxiang Group Co, one of China's biggest parts makers, has said it is "in its interests" to help Fisker Automotive Inc, a luxury plug-in hybrid manufacturer, which is one of the main customers of a bankrupt battery supplier Wanxiang is buying.

However, President Pin Ni declined to say whether Wanxiang will invest in Fisker. Wanxiang received approval earlier this week from the Committee on Foreign Investment in the US to buy most of the assets of A123 Systems Inc, the battery maker backed with US government funds that filed for bankruptcy in October.

Source:China Daily

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