Another green tax payer funded scam – $150 million for hybrid battery company ‘Compact Power’ now furloughing workers
Not quit the size of Solyndra, but add another $150 million to Obama’s $90 billion of green energy losers that your tax dollars have funded. In other others, just add another $150 million to the $90 billion of your tax dollars pissed down the toilet. But hey, it’s only your money. According to Fox News, workers at the Compact Power manufacturing facilities in Michigan has placed it’s workers on rotating furloughs, working only three weeks per month based on lack of demand for lithium-ion cells.
The facility, which was opened in July 2010 with a groundbreaking attended by Obama, has yet to produce a single battery for the Chevrolet Volt, the troubled electric car from General Motors. The plant’s batteries also were intended to be used in Ford’s electric Focus.
Production of the taxpayer-subsidized Volt has been plagued by work stoppages, and the effect has trickled down to companies and plants that build parts for it — including the batteries.
“Considering the lack of demand for electric vehicles, despite billions of dollars from the Obama administration that were supposed to stimulate it, it’s not surprising what has happened with LG Chem. Just because a ton of money is poured into a product does not mean that people will buy it,” Paul Chesser, an associate fellow with the National Legal and Policy Center, told FoxNews.com.