Boston Power Founder Explains Why She's Moving Company To China
BOSTON (CBS) - A Westborough green tech company that had plans to create hundreds of manufacturing jobs in Massachusetts has now decided to move much of the company to China.
In an exclusive interview at the WBZ studios, Boston Power founder and International Chairman Dr. Christina Lampe-Onnerud explained the decision was prompted by a massive assistance program offered by the Chinese government which included a cash investment, loans, incentives and construction assistance.
Boston Power, which makes lithium ion batteries, has been unable to meet growing international demand for its green lithium ion batteries that are now found in computers, machinery and cars. The company will locate a massive production facility in Beijing and move most research and development to China, as well.
The decision to move to China came after Boston Power's application for $100 million in U.S. federal stimulus funding was denied.
Listen to my web report on our conversation:
