Monday, February 6, 2012

Green Fail: Fisker Automotive announces layoffs in U.S. Making cars in Finland.

President Obama gave Fisker Automotive a half billion clean energy loan. They subsequently announced they would build cars in Finland, not the U.S. Thy still had U.S. research operations, but now the layoffs begin. Oh, and they want more federal tax dollars from the Department of Energy.
(Politico) In another setback for President Obama’s clean energy loan programs, the recipient of more than a half-billion dollars in federal loan guarantees is laying off workers at their Delaware and California operations.
Delaware’s News Journal reports that Fisker Automotive, a California-based electric car start-up company, is laying off an undisclosed number of staff to try to reserve enough capital in order to qualify for more federal help from the Department of Energy, according to a Delaware state development official.
“They’re trying to preserve the cash that they have,” said Alan Levin told the News Journal. “And unfortunately, until they meet the milestone that DOE continues to set … they’re not able to access the additional capital that they need.”
The company also came under fire last year for taking federal loans while producing cars in Finland. Company officials told ABC News at the time that “there was no contract manufacturer in the U.S. that could actually produce our vehicle.” The company was working on reopening a shuttered General Motors plant in Wilmington to produce vehicles — an effort that top Obama administration officials lauded.
Keep on reading…


Da Curly Wolf said...

*facepalm* and people are surprised by this? damn people are dumb