“Battery maker Boston Power is shifting its operations to China to capitalize on the electric-vehicle market.
The Westborough, Mass.-based company today announced that it has raised $125 million from Chinese venture capital firm GSR Ventures as part of an expansion into China. In addition to the private equity, the company is receiving grants, low-interest loans, and other incentives from the Chinese government, which will lead to construction of a large-scale battery manufacturing plant.”
