A123
Going Under
Electric car manufacturer Fisker Automotive received a fraction of what it sought in a lawsuit against its former battery manufacturer in a settlement in a Delaware court on Wednesday, the Associated Press reported.
Fisker Bankruptcy Filing Could Come in the Next Week
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 Fires 75 Percent of Workers
Fisker Automotive announced today that it would cut 75 percent of its workforce after failing to secure a deal an investor, reports Bloomberg.
The Solar Panel Domino Effect
A mirror manufacturer for solar energy projects that has received financial help from the federal government has gone bankrupt, a development that could affect current solar projects that have also received help from the federal government.
Embattled DOE-Grant Recipient Changes Name from A123 to B456
After bankruptcy, a buyout by a Chinese firm, and more than a hundred million dollars in taxpayer money, the lithium-ion battery maker A123 Systems, Inc., is getting a new name: B456 Systems, Inc.
GAO Report: DOE Loan Program Hasn’t Closed a Loan in Two Years
A $25 billion Department of Energy loan program responsible for federal investments in automotive companies like the struggling carmaker Fisker has not closed a loan in two years.
Red Light
Republicans are considering a new push against what they say are wasteful “green” subsidies in light of news that a recipient of a major stimulus grant for electric vehicle batteries paid workers to watch movies and play games while failing to produce a single battery.
A123 Sale Approved
The sale of bankrupt electric-car battery maker A123 to Chinese firm Wanxiang America has been approved by the necessary interagency panel.
Advanced American Technology Set to Transfer to China
Ten years worth of advanced American technology could pass from the United States to China if the sale of A123 is allowed to go through, Fox News reported.
