AllBright represented the Wanxiang Group in buying the civil business of US advanced battery manufacturer A123 Systems, LLC. The value of the acquisition, which included A123’s manufacturing facilities in China and its equity in its joint venture with SAIC Motor Group Corporation Ltd, was US$256.66 million plus the acquired assets’ corresponding liabilities. The project was approved by the Committee on Foreign Investment in the US on January 28, 2013 local time. On January 29, the deal was closed.

A123's government business unit, which works with the US Defense Department, has been sold separately.

A123 develops and manufactures advanced Nanophosphate® lithium iron phosphate batteries and energy storage systems that deliver high power and energy density, long life, and excellent safety performance. The company is listed on the Nasdaq.

China-based Wanxiang Group is the leading auto spare parts and clean energy product maker in the world.  Wanxiang America Corporation has been very active in the US auto, industrial and clean energy technology market since 1994. Wanxiang initially attempted to purchase an 80 percent-stake in A123 through loans and stock trading. After A123 declared bankruptcy, Wanxiang outbid Johnson Controls Inc., NEC Corp and Siemens and won the final approval of the Delaware Bankruptcy Court.

AllBright Senior Partner David Tang, Partners Mao Weifei and Kevin Wang, Associates Li Lei, Michael Xu, and Zhang Chi advised Wanxiang in all aspects throughout the acquisition.  These issues included guarantee and debt restructuring, corporate, anti-trust, intellectual property, labor and taxation issues.