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  • Electric-Car Firm That Received Biden Visit and $118M in Stimulus Funds Files for Bankruptcy

    01/27/2012 4:33:16 PM PST · by IbJensen · 9 replies
    CNS News ^ | 1/26/2012 | Fred Lucas
    (CNSNews.com) - Ener1--a company that manufactures batteries for electric cars, and that received $118.5 million in federal stimulus money, and that Vice President Joe Biden visited last year the day after President Obama’s State of the Union Address—announced today that it has filed for Chapter 11 bankruptcy protection. In last year’s State of the Union Address, delivered Jan. 25, 2011, President Obama set a national goal of having a million electric vehicles on the road in the United States by 2015—a goal that would be achieved, Obama said, by taking money out of the oil industry and “investing” it in...