US battery companies heading East

In the wake of the A123 Systems saga and the controversy surrounding the company’s possible sale to the US arm of Chinese giant Wanxiang Group comes the news that fellow advanced battery manufacturer Altair Nanotechnologies has sold the majority of its shares to China-based Canon Investment Holdings.

According to a report in AlterEnergyStocks, the company made the sale to avoid bankruptcy, and that all its operation will eventually move to China.

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