Embattled DOE-Grant Recipient Changes Name from A123 to B456

The Washington Free Beacon 3/28/2013

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.

A123, which produces batteries used in electric cars, has changed its name to B456, the company announced […]

A123 Seeks Lobbying Firm to Secure $256 Million Sale

The Washington Free Beacon 1/2/2013

The bankrupt electric car battery manufacturer A123 Systems Inc. is looking to hire a lobbying firm to protect the company’s sale to China’s Wanxiang Group, according to Dow Jones…

…A123 Systems filed for bankruptcy in October after receiving $133 million of a nearly $250 million grant from the federal government. […]

Meltdown of Subsidized Battery Maker Zaps Obama Detroit Visit

“The work you’re doing will help power the American economy for years to come.”

— President Obama in a Sept. 13, 2010 phone call to battery maker A123 Systems, congratulating the firm on using the bulk of a $249 million government grant to open new facilities in Michigan.

 

Chris Stirewalt […]

Fisker Suspends Production of the Karma

Steve Rousseau Popular Mechanics 11/30/2012

California-based Fisker Automotive has halted production of its plug-in hybrid Karma luxury sedan after battery provider A123 filed for Chapter 11 bankruptcy last month. The automaker says it is suspending production until a buyer is found for the failed battery manufacturer.

The news, first reported by Bloomberg yesterday, is yet […]

A123 Systems received million dollar DOE grant payment on same day it declared Chapter 11

Doug Powers MichelleMalkin.com 11/16/2012

Last month Michelle wrote about A123 Systems declaring bankruptcy. A123 was one of the many “clean energy grant” recipients that ended up going under and taking a pile of taxpayer cash with it — a pile that was made even bigger on its final day. In a demonstration of the kind […]

Battery builder A123 Systems that won $249 million federal grant files for bankruptcy

Justin Hyde Motoramic Yahoo! Autos 10/16/2012

No company has embodied Washington’s hope for an American-built electric vehicle business like A123 Systems. 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 […]