The move makes A123 the latest government-backed energy company to file for Chapter 11. Many of these companies have struggled to make money as demand slows for their products. A123 received more than $250 million in state and federal funding to help it run its operations providing batteries for electric cars and other products. But it has also faced many problems, including defective products.
A123 today said Johnson Controls will help finance the filing by buying A123's automotive business … Read more