Pankaj61. Boston-Power Inc
Headquarters: Westborough, MA
Bought By: Chinese Government
Headquarters: Beijing
When Boston Power moved 90% of its operations from Westborough to Beijing, the local staff were understandably put out. While the company had applied for a grant from the US government, it was denied. As a result, the Chinese government stepped in and bailed the company out with $125 million.
Boston Power moved production to China so that it could continue to work on batteries for electric cars. There is still a headquarters in Westborough, but all decisions are made in Beijing where the board members are located. The founder of the company left within a year of the deal being struck.