In response to constant public slams by Republican Presidential Candidate Mitt Romney Fisker Automotive has said, “we don’t consider ourselves a loser, having sold 1,500 cars already and raised over $1.2 billion of private equity.”
Electric vehicle manufactures (EVs) have come out against Romney’s statements in the past. However, Fisker has become a favorite target and for good reason. Fisker took a low interest Department of Energy loan of $529 million. The goal of the loan was to help in the development of an EV and have the EV built in a revamped GM factory. Gas free vehicles and American jobs in the automotive sector – sounds good. Unfortunately, after pulling $193 million of the loan funds Fisker was cut off failing to meet stipulations connect to the loan. Because of this Fisker is labeled as a failed green energy loan program.
Once the spin of politics is removed, Fisker is still in operation, is on track to repay their Government loan, and Fisker says it has created close to 1,000 new jobs in the United States.
However, Fisker is not out of hot water just yet. Consumer Reports recently slammed the $100,000 Fisker Karma for bad acceleration and a messy interior. Consumer Reports went so far in recommending the Chevy Volt ($40,000) for better EV mileage and the Toyota Prius ($26,000) for a cheaper more fulfilling green experience.
Andrew Meggison was born in the state of Maine and educated in Massachusetts. Andrew earned a Bachelor’s Degree in Government and International Relations from Clark University and a Master’s Degree in Political Science from Northeastern University. Being an Eagle Scout, Andrew has a passion for all things environmental. In his free time Andrew enjoys writing, exploring the great outdoors, a good film, and a creative cocktail. You can follow Andrew on Twitter @AndrewMeggison