Another Solyndra? By Jeff Siegel | Wednesday, February 6th, 2013
$529 million.
More than a half billion dollars.
That's how much the electric car manufacturer Fisker Automotive was initially promised by Uncle Sam. That was a few years ago, and since then the automaker has delivered about 1,500 vehicles to customers.
But this outfit is far from being in good shape...
Truth is Fisker has had a number of public relations blunders along the way, despite some high-profile celebrities driving the streets of LA in this luxury car.
And in fact, today the company is actively looking for potential partners because, as company spokesman Roger Ormisher said, “Without a partner, it would be difficult for Fisker to survive.”
That's not too reassuring for a company that's already drawn down $192 million of the government's loan. Fortunately, the remainder of that loan has been suspended due to delays with the company's first model, the Karma.
Of course, $192 million is peanuts compared to the more than $1 billion in private equity the company has managed to raise. But it's still enough to piss tax payers off (rightly so) — and ignite yet another firestorm against electric cars and alternative energy.
