Despite a new report out of the United Kingdom that says the future of the business is bleak without government subsidies, a three-year-old unprofitable electric truck company that received $32 million in U.S. taxpayer stimulus plans to raise more money via an initial public offering. Kansas City-based Smith Electric Vehicles was launched in January 2009, and despite its lack of track record and the inexperience of its leadership, theDepartment of Energy awarded the company$10 million in August 2009, and an additional $22 million in March 2010, for an electric truck demonstration program. The company was little more than a...