Is Barack Obama an Environmentalist Wacko…his track record is not good
Indiana-based electric car battery manufacturer Ener1 filed for Chapter 11 bankruptcy on Thursday. The battery maker received over a quarter of the federal stimulus money granted to projects in the state of Indiana under the American Recovery and Reinvestment Act for 2009, a state which was the second highest recipient of federal stimulus money.
Ener1 CEO Alex Sorokin said that in addition to heavy competition from Asian markets, the “volatility in the debt and equity markets” further limited the company’s borrowing ability.
The loss of Ener1 customer Norwegian automaker Think Global — which declared bankruptcy in June 2011 — also “exacerbated” the problem, Sorokin said in a statement on Thursday. As we’re sure that Solandra did.
Six companies and Purdue University received over $400 million in funds specifically for the development of electric car technology. Ener1 — which was granted $118 million for the production lithium-ion cells and packs for hybrid and electric vehicles — received over a quarter of those funds.
Well as nice a product as it is – Ford’s new, by order only status now, Focus – is going to hiccup just a bit until someone can indeed furnish the automaker with the lithium-ion cells and packs for the new hybrid and electronic vehicles.
And it is a shame! One should have a look at Ford’s preview offering – caution, the bells, whistles, graphics, and trinkets all for all to see – yet, we must remember that this is a mock-up car.
All up with all standard package (S1) and a blue exterior finish the starting price for this vehicle is $42,000. Makes one wonder is the technology and everything that aligns itself to “new technology” worth the differential when the exact same petro based vehicle is listed at $16,000. Or maybe Ford’s marketing team has aligned itself with this no middle class mantra; therefore, everyone now must be in the European vehicle market.
