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Pulpfishin
10-16-2012, 12:32 PM
Battery builder A123 Systems that won $249 million federal grant files for bankruptcy



The Massachusetts-based company was supposed to become the leading home-grown supplier of lithium-ion batteries for automakers in the United States and around the world -- fueled in part by a $249 million grant from the Obama administration. Today, A123 Systems filed for bankruptcy, saying much of its assets would be sold after losing $857 million over the past several years.



http://autos.yahoo.com/blogs/motoramic/battery-builder-a123-won-249-million-federal-grant-143806554.html

SarasotaRepub
10-16-2012, 12:42 PM
A company making batts for Electric Cars goes belly up????

SHOCKING!!!! :rolleyes:

Starbuck
10-16-2012, 12:57 PM
Looks like the winners in the auto competition are going to be the 30MPG sedan types and the hybrids.
Ford is getting ready to push their "Prius Killer" out the door, and I think it's about time. The Prius has had their own niche long enough.

The electric car? No. Not in America. We're simply too big a country with too large cities for electric cars to have mass appeal.

The average car factory produces around 600 cars/day. The best month Chevy Volt has had was about 2500 units - and that's with the government buying them. Four, maybe five days production is all they can sell.

It'll be a collector's item someday, sitting right beside the 1979 Cadillac Diesel.:smile-new:

SaintLouieWoman
10-16-2012, 04:16 PM
Battery builder A123 Systems that won $249 million federal grant files for bankruptcy



The Massachusetts-based company was supposed to become the leading home-grown supplier of lithium-ion batteries for automakers in the United States and around the world -- fueled in part by a $249 million grant from the Obama administration. Today, A123 Systems filed for bankruptcy, saying much of its assets would be sold after losing $857 million over the past several years.



http://autos.yahoo.com/blogs/motoramic/battery-builder-a123-won-249-million-federal-grant-143806554.html


I hope Romney compiles a lengthy list of all our tax dollars thrown out by Obama to his green companies. It would be interesting to follow the money to see what really happened to all that borrowed cash.

NJCardFan
10-17-2012, 02:43 AM
I'm dumbfounded that Romney didn't bring this up in the debate. Obama kept on droning on and on about green energy and Romney should have brought up both Solyndra and A123 as both received nearly $1 billion in stimulus money combined and it was all flushed down the shitter.