ECOtality Goes Bankrupt, Stranding 13,000 Docking Stations

Ecotality Charging Station - Electric Car NewsNow here’s a fine mess, as Laurel and Hardy used to say. One of the biggest electric vehicle charging companies, Arizona-based ECOtality (a Nissan Leaf partner), went bankrupt, stranding about 13,000 commercial and residential stations. We all have a stake in this, because American tax dollars supported these installations through the so-called EV Project.

In the early rounds, only one bidder emerged, an unknown company called Tellus Power, which proposed acquiring ECOtality’s assets for just $3 million. Consider that the federal grants totaled almost $115 million (of which almost $100 million was spent) and you begin to see the issue here. There are clear parallels to what happened to the U.S. investment in Fisker Automotive, which went bankrupt after spending $192 million of a $529 million loan (the feds then seized $21 million in assets).  Read More

Advertisements

About Alex Campbell
“Alex” is a creative writer, editor, blogger, and digital marketing professional seeking freelance opportunities in marketing, communications, social media, public relations, investor relations, government relations, sales and service. Offers over 20 years experience elevating brands, sharing stories and driving sales for interesting, innovative and disruptive products, services and new technologies.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: