Tag: Chapter 11 bankruptcy

Commentary: Solar Company Benefiting from IRA Has Forced Labor Problem

South Carolina Sun Staff
Solar Panel Installation

Vice President Kamala Harris was “proud to cast the tie-breaking vote” for the Inflation Reduction Act. Would she be proud if her administration’s solar subsidies fund supported forced labor in China?

That may be the case with Hanwha Qcells, a South Korean solar company operating in Georgia. Bloomberg recently reported that two Chinese suppliers of the company obtained polysilicon for solar panel components from companies sanctioned by the U.S. government for employing forced Uyghur labor. Hanwha and their Qcells plant leadership deny these allegations, but Bloomberg reports “that the company offers assurances but no public details of its polysilicon sourcing.”

Read More

EV Start-Up Files for Bankruptcy One Year After Rolling Out Its First Model

South Carolina Sun Staff
Fisker Vehicle

An electric vehicle (EV) producer that was once a splashy start-up company has filed for bankruptcy.

Fisker filed for Chapter 11 bankruptcy on Tuesday after trying and failing to secure more investment to stay afloat, the company announced. The company once attracted robust interest and hype, marketing itself as the Apple of vehicles, but it struggled to run as a public company and was stuck with thousands of EVs that it did not sell, according to The Wall Street Journal.

Read More