Fisker Automotive isn’t the next Solyndra — it’s worse.
Nearly $200 million into a $529 million loan from the Department of Energy, Fisker’s yet to build a car in the United States. The current model they offer, the Karma, retails for a reasonable $103,000. And here’s the fun part. The Karma, produced in Finland, first suffered a recall in December. That recall expanded recently — in no small part due to a Karma in Texas lighting on fire and burning down the garage where it was parked. It appears that not only are these not American cars, but they’re not even particularly safe for American drivers.
According to ABC News, “Fisker received federal funds in part to help purchase a shuttered General Motors plant in Delaware, where it predicted it would one day employ 2,000 auto workers to assemble the clean-burning gas-electric family car, known as the Atlantic.”
This latest recall won’t help things, but even before yesterday’s announcement the odds of the Department of Energy’s loan creating jobs was slim. The American Spectator reported in February that Fisker’s loan had been suspended for failing to meet the basic requirements for continued funding. With that loan now on hold, it’s quite likely Fisker will build the planned factory overseas.
Incidentally, the ABC report also contained this rather revealing fact: “One of the company’s major backers is the venture capital firm Kleiner Perkins Caufield & Byers, according to published reports. The firm’s partners include John Doerr, a billionaire tech mogul who serves on President Obama’s Economic Recovery Advisory Board.”
Here’s the bottom line: Obama‘s green energy agenda isn’t working — at least for Americans.