Fisker Automotive, the green carmaker that received more than a $100 million in federal government loans, is preparing to file for bankruptcy protection and could do so as early as the next week.
Fisker Automotive furloughed its entire U.S. workforce this week, according to Reuters.
The sale of bankrupt electric-car battery maker A123 to Chinese firm Wanxiang America has been approved by the necessary interagency panel.
President Barack Obama appears to be doubling down on his policies of using taxpayer money to finance green energy investments despite an increasingly spotty track record.
A new Obama campaign ad accusing Republican presidential nominee Mitt Romney of shipping jobs overseas celebrates the president’s clean energy program, which has given taxpayer-guaranteed loans to foreign-owned companies and firms that manufacture their products outside the United States.
A luxury electric vehicle manufacturer may abandon its relationship with the Obama administration after an Energy Department loan was frozen, causing manufacturing setbacks.
President Obama’s green jobs initiative hit another pothole Monday when an electric car company that received more than half a billion dollars in Department of Energy loans announced it was conducting layoffs. A Delaware state development official told the News Journal that Fisker Automotive, a California-based electric car company, is laying off employees to reserve …