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Another Green Company Strikes Out

Posted by Steve Markowitz on April 9, 2012

The Wall Street Journal reported that late last month the electric van manufacturer, Azure Dynamics Corp., closed its doors laying off 120 workers.  Azure electrified Ford vans for customers who do not exist in large enough numbers.  According to the Journal, the company sold 800 vans in 2011 or only about one third the amount needed just to reach breakeven.

Azure joins an extensive list of failing green auto companies that includes:

Fisker Automotive – This firm has had recalls, a failed test with Consumer Reports, and weak sales.

A123 Systems – A supplier of batteries for green autos, it has encountered severe technical problems resulting in recalls costing in excess of $50 million.

Bright Automotive – This Michigan-based company failed to get a government loan and has since shut down.

Think Global – A plug in car company from Indian, it has declared bankruptcy.

In addition to the above, the Chevy Volt and Nissan Leaf have failed in the marketplace due to weak consumer demand even with the spike in gasoline prices.  Add other green venture failures and this list becomes one of an incredible boondoggle.

The failures have not deterred Progressive s in the Obama Administration.  Last week the US Department of Energy announced it was in fact increasing loans to green companies proving once again the inability of governments to properly manage the People’s money.  Only by cutting the amount of funds available to these knuckleheads can this madness be brought under control.

The US Department of Energy was formed in the late 1970’s by the Carter administration with its goal to cut U.S. oil imports.  Hundreds of billions of dollars and three decades later and America’s percentage of oil imports has doubled.  The US DEO continues to waste the People’s money.

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