The recent bankruptcy of battery maker A123 Systems after it won a nearly quarter-billion-dollar federal grant threatens the business prospects of another well-known government-backed company: luxury car manufacturer Fisker Automotive.
Fisker has received nearly $200 million in federal loan money in recent years, but one of its signature vehicles is powered by batteries that come off the assembly line of bankrupt A123 Systems.
And now A123 wants to get out of its contract with Fisker, according to court records.
While Fisker officials did not return email messages Wednesday, company attorneys laid bare the extent of the firm’s ties in a recent filing in U.S. Bankruptcy Court in Delaware.
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