Chinese firm wins A123 despite U.S. tech transfer fears

Here’s a question for the congressmen and senators that had concerns. Is the american consumer to remain tied to the use of fossil energy forever, just because american venture capitalists and other industrialists are too stupid to see the future? Wanxiang got A123 at a bargain basement price, because american investers are former drunken frat boys that have no clue when it comes to the real world.

Does China allow American companies to buy Chinese companies? Is the playing field level in all respects?

I say let China buy up the entire country, we are already controlled by China and bribes in Congress. Why pretend? The US let China get almost all of their military and missile techonology from US companies. I think we should all learn Chinese, that would be helpful when they start pouting ashore.
US Capitalism – epic failure. Just a form of dictatorship disguised as a democracy.

The current state of battery technology is not environmentally friendly, is not profitable and is not politically sensitive. Even drunken frat boys know better than to put good money after bad. And anyway, if this looks bad we can always blame the previous administration for . . . oh. wait.

@DifferentOne

Many chinese companies have been bought over by American companies.

The US problem does not come from China; it comes from the bankruptcy of A123 that was caused by “weaker than expected demand for hybrid vehicles and technical problems.” Americans don’t support cars without internal combustion engines because gasoline doesn’t remain at $5 to $10 per gallon or higher. Americans don’t support this with their cash, and they won’t until electric car prices drop to competitive levels or until gasoline prices rise to prohibitive levels.

China knows where the future is leading, and they have the cash to invest and to sustain the investment. China introduced the BYD that gets 185 miles on a plug in and has a 40 minute quick charger that would allow a shopping or meal break during a trip. Warren Buffett invested in BYD, and the company has expanded its sales and charging infrastructure in more countries, so its expansion suits Buffett’s long-term strategies for investments. Wanxiang Group is also investing for the long term, and the US should see where it leads.

The current state of battery technology may not be producing impressive products and profits, but the point, and the fear, is that the base technology could be developed to do just that in the not too distant future for the Chinese, at our expense.