Fisker Automotive made claims of $140 million against A123 Systems (now called B456 Systems. They moved onto the next letter in the alphabet and used the three numbers after 123) because of the rejection of its supply agreement and alleged breach of warranty obligations. The claims were $91.2 million for damages caused by rejection of its supply agreement, and $48.7 million for a breach of warranty obligations. But most of these claims were rejected.
Browsing the "A123 batteries" Tag
After a difficult year and much lower-than-expected sales of electric vehicles, battery maker A123 systems has filed for Chapter 11 bankruptcy protection in Delaware. The company has agreed to sell its remaining automotive assets to Johnson Controls. Let the game of political football over the $249 million green energy loan A123 received in 2010 begin.