A123 Files For Bankruptcy

Bloomberg is reporting that battery maker A123 Systems is filing to bankruptcy protection in Delaware. The company has received cash infusions from China earlier this summer, and its financial situation has been precarious, to say the least. Political controversies were also part and parcel of the story, as with any green energy project today, and A123 received a $249 million dollar grant from the Obama administration in 2009. A123 supplied battery technology to Fisker and General Motors. We'll have more on this as details emerge… from The Truth About Cars http://www.thetruthaboutcars.com

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