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Author: admin | Category: Loan Car Calculator | Date: 21.04.2014

Everyone’s probably heard of Solyndra but how many of you have heard of the Fisker Corporation?
Two years ago, Henrik Fisker got $529,000,000 (yes, that’s $529 million) in government loan guarantees to start up his electric car company.
Well, it looks like there’s already a problem with the luxury model.  All 239 cars have been recalled because of a potential fire hazard. There are recalls all the time by automobile companies but this is one helluva way to start a new company – with the help of U.S. Nevertheless, our government is hellbent on shoving “green” technology down our throats whether we like it or not.

Now we’re learning that Fisker is laying off 26 workers at the GM plant in Wilmington and another 40 contractors and employees working on design and development of the Karma in California. The car’s been delayed because of “regulatory delays” and “battery pack problems” which prompted a voluntary safety recall by Fisker. I read yet another story about a fire badly damaging the home of a new Fisker Karma owner, and the 60-day old electric car was the source of the blaze, according to the Fort Bend County, Texas, chief fire investigator Robert Baker.  Fisker denies this of course. In March, another Karma broke down in the middle of a Consumer Reports road test, a failure that Fisker later said was due to a faulty battery. The Advanced Technology Vehicles Manufacturing program was signed into law by President Bush in 2007 and the initial Fisker application was submitted to the Bush administration but it was approved by the Obama administration.

Chief, that might be the real problem with the technology but to me the real problem is that we have these federal government programs guaranteeing loans to private companies [and foreign governments].

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