One More Sign That China Gets It and Obama Wiffed It

Holy cow Batman. Seems like Obama just pre funded the domestic Chinese battery industry. If this ain’t pissing in your coke I don’t know what is.

After the failure to create jobs in his first term, Obama now has the embarrassing honor of having wasted half a billion dollars to help China get a toe hold in the US Electric Vehicle and Power Storage businesses.

Ironically the political win of this purchase is worth far more than the cost of the assets to the Chinese government, who even more ironically probably financed the transaction.

Mr. Obama, if this is your vision for American Clean Technology please do the country a favor and do nothing else in this space. We’re all better off waiting for competency in 2016.

DealBook (@dealbook)

12/10/12 7:59 AM Chinese Car Parts Maker Wins Bidding for A123 Systems nyti.ms/TPa2Cj