Fisker, electric carmaker backed by $529 million U.S. loan, balks at Solyndra comparison

[alp227]

Source: Wash. Post

An electric car company backed by more than a half-billion dollars in Department of Energy loan guarantees has missed early manufacturing goals and has gradually pushed back plans for U.S. production and the creation of thousands of jobs.

This week, Fisker delayed until 2013 the production of the moderately priced family car it plans to build in Delaware. It also learned that its Finnish-produced luxury model, the $96,000 Karma, which is two years late in reaching U.S. markets, failed to meet a promised energy-efficiency standard.

With the demise of Solyndra, a solar company that also won a half-billion-dollar loan from a program to spur clean-energy technologies, the Energy Department’s loan guarantees have come under intense scrutiny, and the Obama administration has been under fire for making risky loans to unproven ventures. The administration has stood behind the stimulus-based lending, saying that risk is inherent in backing emerging technologies.

Fisker was among the big winners in the administration’s effort for broader development of electric vehicles, and company officials said their problems bear no resemblance to those of Solyndra, which filed for bankruptcy protection in September.

Read more: http://www.washingtonpost.com/politics/fisker-electric-carmaker-backed-by-529-million-us-loan-balks-at-solyndra-comparison/2011/10/20/gIQA6kHt4L_singlePage.html

[Muskypundit]

1. This hurts more than solyndra.

Solyndra made their goods in the U.S, but had a really shitty business plan compounded by unfair competition from the chinese.

These fuckers took the money and ran overseas with it. They should give every red cent of that money back, or be thrown in jail.

And if Obama made the loan without any assurances the production would be in the U.S; shame on him.

[Dokkie]

2. did it ever occur to you

That maybe solyndra would still be in business today and maybe even making a profit for we the people if they had built their plan outside the USA.

[christx30]

5. The point, as I understand it

is part of the whole "Green jobs" thing that the President was trying to do. Use Federal backed loans to get companies to invest and build here, to put Americans to work. The problem with Solyndra was because it was a crappy company selling stuff that not many people wanted to buy, with China able to sell the stuff a lot cheaper. The US tax payer is out over $500 million.

The problem with Fisker that I have is that taxpayer money was given to these people to build a plant in the States, to once again, employ Americans. But they used the money that we loaned them to employ people in other countries. They need to give that money back.

If this is such a great thing, let the Finnish government use their resources to make it happen.

[Muskypundit]

6. I am tired of companies doing production and design in other countries

and us supporting it as U.S jobs. Yea, sure, the dozen or so people who run the company live in the U.S and are making bank. But I am not a fan of trickle down. Are you?

[joshcryer]

3. WTF I never even heard of these people.

[IDemo]

8. They're very well known by those who follow electric autos

Though the Fisker is a series hybrid, similar to the Chevrolet Volt, not a "pure" EV.

[alfredo]

9. Here is the car.

http://www.fiskerautomotive.com/en-us

[ProSense]

4. The GOP/media

will continue to search for a scandal.

Steve Benen

* ABC News thinks it’s found a big new scandal involving a U.S. loan that boosted manufacturing in Finland. ABC’s report is really, really, really, really misleading.

Grist: The facts on Fisker: The media’s latest faux scandal

Think Progress: Did The Obama Give A $529 Million Loan To Create Electric Car Manufacturing In Finland?

Media Matters: ABC Uncovers Scandal: Electric-Car Companies Using Federal Money To Create American Jobs

Fisker, Tesla, and American Auto Innovation

[Grassy Knoll]

7. Well it looks like ABC News wants to give fox a run....

for their money, The loan states NO money will be used overseas, But I guess
thats not important enough to report, Like most Obama haters, they don't read the
whole story, Just the bullshit headline.