Electric-car battery maker Ener1 Inc., whose shares were delisted from the NASDAQ stock market Oct. 28, is the latest recipient of U.S. Energy Department aid to run into financial trouble and draw congressional scrutiny.
New York-based Ener1 said in a filing Tuesday with the Securities and Exchange Commission that it would be suspended from the NASDAQ exchange starting Thursday due to non-compliance with filing requirements.
Battery maker Ener1 Inc., which has almost 400 employees in the Indianapolis area, has replaced its chief executive and appointed Ivy Tech President Thomas J. Snyder as non-executive chairman of the board.
The New York-based parent of EnerDel, which has almost 400 employees in the Indianapolis area, told investors Friday that it had received written notice of its failure to comply with NASDAQ's listing requirements.
New York-based Ener1 Inc., which engineers and makes batteries in the Indianapolis area at its EnerDel subsidiary, announced Tuesday that it won't file its second-quarter 2011 financial report on time.
Think Global, which has a factory in Elkhart and uses batteries made in the Indianapolis area, plans to liquidate its assets, according to supplier Ener1 Inc. Ener1 expects to lose $32 million in the process.