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Rep. Rohrabacher: Obama Administration Must Deny Chinese Purchase of U.S. Energy Company That Recieved $133 Billion in Stimulus Funds

Dec 12, 2012

Washington, Dec 12 - Today, Congressman Dana Rohrabacher (CA-46) sent a letter to U.S. Treasury Secretary Timonthy Geithner, urging him to block the sale of A123, a U.S. high tech battery developer, to a Chinese company. A123 received $133 million dollars in stimulus funds. The Wanxiang Group of China has won the bid to acquire nearly all of a A123, which produces lithium-ion batteries and other critical components of our national energy grid. 

“The U.S. government must protect sensitive, valuable technology and jobs in this country from competitors, such as Communist China,” wrote Rohrabacher. “The Committee on Foreign Investment in the United States must wake up and play a more active role in defending U.S. manufactures and U.S. workers and deny the Wanxiang Group the ability to buy A123.” 

Communist China has a lengthy record of using economic espionage and abusing the benefits of free trade with the United States to steal US manufacturing jobs and American developed technology. 

“The Wanxiang group will not create jobs in America, they will use the technology to build a competing battery industry in China and put even more Americans out of work,” Rohrabacher wrote. 

Senators John Thune (R-SD) and Charles Grassley (R-IA) have previously raised concerns about a Chinese purchase of A123 and have urged the Committee on Foreign Investment in the United States to closely investigate.

Rep. Rohrabacher is Chairman of the House Foreign Affairs Subcommittee on Oversight and Investigations.