Payback for all of his debt they’re buying?
From Fox News:
The U.S. government has approved the sale of U.S. taxpayer-backed A123 Systems to a Chinese company, despite security and economic concerns about sensitive technology changing hands.
A representative with A123 Systems confirmed Tuesday to FoxNews.com that Wanxiang America Corp. has gotten approval from a Treasury Department agency to take over “substantially all” of the non-government business assets of the lithium ion battery manufacturer.
“We’re pleased the government has completed its review and provided us with the go-ahead to finalize this transaction,” Pin Ni, president of Wanxiang America, said in a written statement.
A representative with the Committee on Foreign Investment in the United States — an inter-agency panel chaired by the Treasury Department that would have made the decision — declined to comment.
The move comes despite concerns from lawmakers on both sides of the aisle about a Chinese firm taking over a company — and technology — that U.S. taxpayers helped fund through $249 million in grants. Of that money, about $130 million had been released so far, the Department of Energy said.