On Tuesday the heavily subsidized electric vehicle battery manufacturer released its latest financial bad news, but also disclosed that it also had a potential buyer – from China. According to media reports, just as A123 reported another $82.9 million in second-quarter losses, good news also magically materialized as Wanxiang Group Corp. was announced as a new investor. A123 had reported recently to the Securities and Exchange Commission that its ability to continue as a viable company was “a going concern.”
Well-respected car guy and General Motors supporter, Bob Lutz, posted a piece on Forbes that attacked "right-wing" criticism of the Chevy Volt. With all due respect and noting that I have nowhere near the credentials of Mr. Lutz, I feel it appropriate to respond to the ridiculous defense that we have seen of a vehicle that is costing taxpayers billions of dollars while offering little in return. I also have some questions of my own for Mr. Lutz and GM.