A123 Systems enters a world of pain

It has been widely reported that things at Electric Car Battery Company A123 Systems are not looking good. Thanks to a recall of faulty Lithium-ion batteries, the Massachusetts-based company posted losses of $125 million, up on losses of $53.6 million in the same period last year.

Revenues slumped by 40% to $10.9 million, and as if things couldn’t get worse, the company now faces legal action. All this has led to some wondering if A123 is facing a fight for its very survival.

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