Wanxiang Group acquires US A123 to expand into lithium battery field

At the end of 2012, Wanxiang Group successfully acquired the international lithium battery giant A123 of the United States for US$257 million and changed its name to Wanxiang 123, officially entering the lithium battery industry. Wanxiang 123's products mainly include low-voltage hybrid battery systems, high-power batteries and energy storage batteries.