Well, I guess there’s still more problems with the Fisker automobile company. I’ve written about Fisker before.
Our government is hellbent on shoving “green” technology down our throats whether we like it or not. In my opinion, the Fisker automobile is yet another one of those ventures which will turn out to be a debacle like Solyndra; it just hasn’t gotten the kind of press Solyndra has. Keep in mind that the Fisker Karma costs $100,000.
Now we’re learning that Kisker is laying off people including 26 workers at a former General Motors plant in Wilmington that Fisker is retooling to manufacture its Nina plug-in hybrid sedan. Another 40 contractors and employees working on design and development of the Karma in California have been cut.
Fisher has received $193 million of the $529 million Department of Energy loan. Now the car’s been delayed because of “regulatory delays” and “battery pack problems” which prompted a voluntary safety recall by Fisker. “The Energy Department made loan availability for the Nina project contingent on Fisker meeting development and sales milestones for the Karma, which the company missed. Fisker is now negotiating with the DOE to modify the loan agreement so funds for that project can be released.”
You may remember in 2009, Vice President Joe Biden joined Fisker officials in announcing the resurrection of the former Delaware GM plant, and Delaware’s Council on Development Finance approved a $12.5 million loan to Fisker to help build the Nina in Delaware. The loan will become a grant if Fisker spends at least $175 million renovating the old GM facility and shows that it created 2,495 jobs in five years.
I wonder if you can actually hear money flushing down a waterless urinal (I wrote about last week)?
