92. A123 Systems

Headquarters: Livonia, Michigan
Bought By: Wanxiang Group
Headquarters: Hangzhou, Zhejiang, China

Based in Livonia, Michigan, A123 Systems is a pioneer in the development and manufacturing of advanced lithium-ion batteries and energy storage systems. In 2013, the firm was acquired by Wanxiang Group, a major Chinese auto parts manufacturer, for approximately $257 million.

A123 Systems @Google/Pinterest

This acquisition marked a significant step in China’s strategic drive to lead in the electric vehicle (EV) sector. By acquiring A123 Systems, Wanxiang gained access to advanced battery technology, a critical component for EVs. The deal also demonstrates China’s desire to secure vital resources and technology abroad to fuel its rapidly growing and evolving domestic markets, particularly in industries with significant environmental impact.