Bankruptcy judge approves Chinese financing for A123 battery maker

A123, which makes lithium ion batteries for electric cars, sought bankruptcy protection last month after receiving more than $130 million of a $249 million Department of Energy grant it was awarded.

Milwaukee-based auto-parts maker Johnson Controls Inc. has offered $125 million for the automotive assets of Waltham, Mass.-based A123, which Wangxiang also is eyeing. Bids are due Dec. 4.