Another Obama clean tech boondoggle goes bust

CNNMoney:
Electric car battery maker Ener1 filed for bankruptcy Thursday, three years after receiving a $118.5 million grant from the U.S. government.
Ener1 (HEVV), which makes a variety of energy storage devices under different subsidiaries, is the parent company of EnerDel, the car battery division that received the government grant to help build a manufacturing plant in Indianapolis.
 Unlike bankrupt Solyndra, the advanced solar panel maker that became a lightning rod for critics of Obama's stimulus spending when it closed its factory and liquidated, Ener1 promised its business will proceed as usual. 
The company said the "voluntarily initiated" bankruptcy filing won't impact any of its subsidiaries, including EnerDel. 
"The restructuring will not adversely impact their employees, customers and suppliers," the company said in a press release, noting there will be no layoffs as a result of the action. 
The company blamed the bankruptcy on a slower than expected demand for electric vehicles....
The Obama administration had unrealistic expectations about the desire of consumers for electric vehicles.  It appears that even with the bankruptcy the company still has unrealistic expectations about the market for their product.  It is unlikely to happen anytime soon.

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