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 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 announced today that it would cut 75 percent of its workforce after failing to secure a deal an investor, reports Bloomberg.
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.
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.