The electric vehicle industry is in serious trouble, or at least far behind where its proponents had hoped it would be.On Tuesday, one of the nation's largest electric car battery companies — A123 Systems Inc., which has 1,000 workers and contractors in Michigan — filed for bankruptcy. It has lost $900 million since 2007 amid sluggish electric vehicles sales.
After years of promises that electric cars would end the nation's reliance on imported oil, the bad news has been steady in recent weeks, with reports of lagging sales and projects being pushed back.
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