“The electric vehicle focus is really what’s driving that,’’ Lampe-Onnerud said of the shift. “Our biggest customers are in China.’’
Boston-Power is one of dozens of Massachusetts companies with a growing presence in China, according to state officials. Many are attracted by low manufacturing costs.
A Boston-Power competitor, A123 Systems in Waltham, has two offices in China. Evergreen Solar, a Marlborough solar panel maker that recently filed for bankruptcy protection, has a factory in Wuhan, and American Superconductor Corp., which makes advanced technologies for wind turbines and power utilities, has sales, manufacturing, and service staff throughout China.
Julian Chang, executive director of the Rajawali Foundation Institute for Asia at Harvard University’s John F. Kennedy School of Government, said it’s a challenge to prevent US clean-tech companies from being lured to China, mostly because of the large subsidies the Chinese government offers as enticements.
“We can’t compete on subsidies,’’ Chang said. “The green push is on in China.’’
The $125 million in funding being used to woo Boston-Power comes in large part from GSR Ventures, a venture capital firm with offices in China and California that primarily invests in technology companies looking to expand in China.
As part of its deal to back Boston-Power, Sonny Wu, GSR Ventures’ managing director, will chair the battery company’s board of directors.
The deal was also contingent upon Boston-Power boosting its presence in China, a requirement that is not unusual, some industry observers said.
“The Chinese usually make that part of the process,’’ said Natixis Global Asset Management chief executive John T. Hailer, who oversees the Boston investment company’s business in the United States and Asia. “The Chinese [also] usually make you share technology.’’
