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Gore-Backed Fisker Gets $529m Loan from US to build $100k cars in Finland

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  • #1
    Washington —Two U.S. senators want the Energy Department to answer new questions about the decision to loan $529 million to luxury auto start-up Fisker Automotive Inc. and award $249 million in grants to battery start-up A123.
    From The Detroit News: http://www.detroitnews.com/article/2...#ixzz1z1atHYct
    I'm for defending all rights for everyone.

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    • #2
      Aug 15 (Reuters) - Fisker Automotive, the maker of the $100,000-plus Karma hybrid sports car, aims to raise about $150 million in additional funds to tide the company over un t il it can launch production of its second model, a key investor said on Wednesday.
      http://www.reuters.com/article/2012/...8JFJ3E20120816

      I really hope the government doesn't give them even more money.

      -Jon (sighs)
      I'm for defending all rights for everyone.

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      • #3
        All these government tax payer waste programs aimed at alternative energy really pi$$ me off.
        Should be private money.
        The secret of success is sincerity. Once you can fake that you've got it made.-Jean Giraudoux.

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        • #4
          Hoping to overcome a string of setbacks and get its product program back on track, battery-car start-up Fisker Automotive is quietly looking to line up a better financed partner.
          http://www.thedetroitbureau.com/2012...eking-partner/

          -Jon (is sure glad his money was "invested" in Fisker)
          I'm for defending all rights for everyone.

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          • #5
            Fisker is going to file for bankruptcy: http://www.complex.com/rides/2013/04...ptcy-this-week

            -Jon (is so glad we wasted money on that company)
            I'm for defending all rights for everyone.

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            • #6
              We Helped?
              "Whenever you find yourself on the side of the majority, it is time to pause and reflect." –Mark Twain

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              • #7
                Surprise!!!!

                Pete (is in the wrong business)

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                • #8
                  Fisker was suspect from the beginning. They stole their tech from Telsa.

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                  • #9
                    Originally posted by Jeff92se View Post
                    Fisker was suspect from the beginning. They stole their tech from Telsa.
                    And their money from a naive US government.

                    Pete (should get into the business of stealing Federal money)

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                    • #10
                      Originally posted by Plezercruz View Post
                      Pete (should get into the business of stealing Federal money)
                      It's the New American Way!
                      I'm for defending all rights for everyone.

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                      • #11
                        Originally posted by Plezercruz View Post
                        And their money from a naive US government.

                        Pete (should get into the business of stealing Federal money)
                        Get into farming. That's been subsidized to death for decades

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                        • #12
                          The U.S. Department of Energy says it recovered $21 million in cash from struggling Fisker Automotive that will go toward repaying nearly $200 million in loans extended under a U.S. program to spur advanced vehicle development.
                          A U.S. House panel is scheduled to hold a hearing Wednesday on Fisker and its government financing.
                          Read more: http://www.autoweek.com/article/2013...#ixzz2RNzWkx3y

                          WASHINGTON (AP) — Newly released documents show that the Obama administration was warned as early as 2010 that electric car maker Fisker Automotive Inc. was not meeting milestones set up for a half-billion dollar government loan, nearly a year before U.S. officials froze the loan after questions were raised about the company’s statements.
                          http://washington.cbslocal.com/2013/...c-car-failure/
                          Last edited by Just Jon; 04-24-2013, 09:34 AM.
                          I'm for defending all rights for everyone.

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                          • #13
                            Wanted: A buyer for the $168 million note for debt owed to the government by a near-dead automaker.

                            That's basically the word put out by the Energy Department on Tuesday as it put out a notice of sale of future promissory notes coming from the big loan to Fisker Automotive, the once-glamorous maker of plug-in hybrid cars. Initial bids are due Oct. 7.
                            http://www.usatoday.com/story/money/...-loan/2829415/
                            I'm for defending all rights for everyone.

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                            • #14
                              Remains of Fisker Automotive on Auction Block this Week

                              I'm for defending all rights for everyone.

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                              • #15
                                Nov 22 (Reuters) - Fisker Automotive, the moribund maker of the Karma plug-in hybrid sports cars that was backed with a loan by the U.S. government, filed for Chapter 11 bankruptcy protection on Friday after lengthy efforts by investors to salvage the company.
                                http://www.reuters.com/article/2013/...0J70ZZ20131122
                                I'm for defending all rights for everyone.

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