Bentley Azure Research

Azure Dynamics files for protection, Transit Connect Electric production halted

Azure Dynamics, which develops electric-drive powertrains for automakers such as Ford, said this week that it will file for financial protection from its creditors under Canadian law and will cancel its plans to sell shares in what may be a precursor to a bankruptcy filing. Azure is the company that adds the all-electric powertrain to Ford's practical little Transit Connect Electric. For now, no new TCEs will be made. Azure's Mike Elwood told AutoblogGreen that production of the Transit Connect Electric has stopped as a result of the restructuring and that, "While we go through our ... Read More