Lithium-ion battery maker A123 Systems Inc. filed for Chapter 11 bankruptcy protection on Tuesday in U.S. Bankruptcy Court in Delaware. It said that auto supplier Johnson Controls Inc. has agreed to acquire its automotive battery business.
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The irrational electrification exuberance claims another victim: Battery maker A123 Systems Inc is running out of money. A lot of it is your money. Says Reuters:
“The company, which received a $249 million grant from the Obama administration as part of a program to develop advanced lithium-ion batteries, said in documents filed with U.S. regulators that it “expects to have approximately four to five months of cash to support its ongoing operations” based on its recent monthly spend…
Minecraft: In the Bedroom Reece Bennett
The maker of Minecraft has a new project in the works, and the first details appear pretty tantalizing: space-themed, set 281 billion years in the future, and rooted in “hard science fiction.” Markus “Notch” Persson and his development company Mojang plan to allow the game to grow much the way Minecraft did, letting users have a heavy hand in its maturation.
MInecraft, for the uninitiated, allows users to reshape and rebuild the world’s in which their characters l…
Hybrid vehicle maker Bright Automotive has announced plans to close, blasting the Department of Energy for failing to finalize a loan that the firm says would have kept it afloat. In a letter dated Tuesday to Energy Secretary Steven Chu, Bright CEO Reuben Munger and COO Mike Donoughe said they were withdrawing their application for a $314 million loan and winding down their operations. The executives claimed they had been strung along for the past few years as the government insisted on increasingly s…
Fisker Automotive, the electric car company that received a half-billion dollars in Energy Department loan guarantees, announced layoffs at its Delaware production facility Monday.
Automotive startup company Aptera Motors, promoter of the weirdly styled, three-wheeled 2e electric car, shut down on Friday, saying it was out of money.
With politicians elbowing each other for photo ops and making grand speeches taking credit for everything from creating jobs to saving the Earth,
Biante, makers of high-quality models of new and vintage Australian street and race cars in a number of popular scales, has seen one of its Chinese contract factories declare bankruptcy suddenly, causing the company to lose some of its tooling for the cars.
According to CEO Andrew Whittles, it is unlikely Biante will be able to recover these molds from this Chinese based supplier, so a number of models have been postponed, including:
1/18-scale Cooper T51 and T53s
1/18-scale, 1/43-scale and 1/64-scale V…