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Another company that received backing from the U.S. Department of Energy files for Chapter 11 bankruptcy protection.
Lithium ion battery company seeks to expand its auto business with government loan and grant programs while testing power grid energy storage with utilities.
The publicly traded firm thus becomes the latest government-backed energy company to file for Chapter 11 amid strong competition and soft demand.
Predicting electric-vehicle sales is as hard as guessing the future price of oil, but rosy forecasts are leading to over-inflated expectations for plug-ins.
Beacon Power, a flywheel storage company that received a government loan guarantee, said its storage plant will continue to operate as it seeks new sources of capital.
In the wake of Beacon Power's bankruptcy, other clean-tech companies with loan guarantees could be in for trouble, too.
Volvo announced it will begin sales of its diesel-electric hybrid plug-in V60 model for the European market next year.
Think Global has been acquired by one of its investors and plans to restart production of the small all-electric sedan in the first quarter of next year.
As electric vehicles come to market, the auto and utility industries are experimenting with new business models to clear the way for the technology.
Makers of electric vehicles and their suppliers are ramping up, but few vehicles are actually available, making it tricky to gauge market demand and drive down costs while being profitable.