A123 Systems Files for Bankruptcy, Will Sell Automotive Business Assets to Johnson Controls

Struggling maker of rechargeable lithium-ion batteries, A123 Systems Inc., filed for bankruptcy protection Tuesday in Delaware. Johnson Controls will help finance the filing by buying A123’s automotive business assets for $125 million. Under the agreement, Johnson Controls plans to acquire A123’s automotive business assets, including all of its automotive technology, products and customer contracts; its […]