Bloomberg News has reported that A123 Systems, the insolvent EV battery maker in Chapter 11 bankruptcy protection, has asked the Wilmington, Delaware bankruptcy court to approve a US$50m loan from Wanxiang America Corp. A123 had obtained court permission on 18 October to draw on US$15.5m from a total agreed loan of US$72.5m loan from Johnson Controls, which hoped to acquire its automotive assets out of bankruptcy, but last week withdrew from A123 debtor-in-possession funding to forestall expected litigation from A123's creditors. Wanxiang Group is A123's main creditor. The Chinese automotive supplier had planned to acquire A123 Systems' equity by degrees, and establish a Chinese production facility for A123's proprietary lithium ion phosphate technology. A123 Systems is reported to want alternative bids for its assets to be submitted by 16 November, followed by an auction on 19 November, and for court approval of a funded restructuring plan to be granted by 26 November.