America bought 600 Volts in December. Gas is above $3.50 across the country, prices expected to rise, and there’s that Iran problem. Meanwhile nobody wants the plug-ins. Last October we told you about Finland’s new US funded Fisker automotive electric 19 MPG $100,000 car. It was funded by a $529 Million Energy Dept low interest loan via American taxpayers. Nobody wants it either, but like GM, they too want to survive.
AP: “The layoffs include 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 who were working in design and development of Fisker’s Karma luxury car in Anaheim, Calif., also have been cut. …
The DOE 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.”
Fisker is being forced to lay off employees in order to refinance it’s loan. The point is this disaster is even being considered, it’s our money.
AP: “In 2009, Vice President Joe Biden headed joined Fisker officials in Delaware in announcing the resurrection of the former 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.” Never forget it’s Bush’s fault.
Obama refuses to back down regardless of the fact that there is no market. In the end, is he creating or destroying jobs? Building or burying economy?