The bankruptcy of a Waltham battery maker, A123 Systems Inc., marks another blemish on President Obama’s record for investing government dollars in alternative energy start-ups.
The president had touted A123 as a model of his administration’s efforts to fund new American manufacturing capabilities in clean technology. The company was awarded $249 million in federal stimulus funds to help pay for plants in Michigan that were supposed to create 3,000 jobs.
Comments
Surprising to see no comments on A123, a hot topic after Wuxiang rescued A123 from its manufacturing disaster. Tom Hale of Reuters reports Wuxiang is still interested in acquiring A123. How come no mention of that? [ Chinese auto parts maker vows to top Johnson deal for A123, available from the Chicago Tribune at http://articles.chicagotribune.com/2012-10-18/classified/sns-rt-us-a123-johnsoncontrols-wanxiang-courtbre89h1p9-20121018_1_a123-wanxiang-group-corp-battery-maker ]