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POLITICS

New York Times: Fisker has become the Solyndra of the electric car industry

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Politics,Beltway Confidential,Charlie Spiering,Energy Department

The New York Times reports today on the epic collapse of Fisker, the electric car company that was given a $529 million federal loan in 2009.

Veering on the edge of bankruptcy, without a buyer in sight, Fisker has become — to lawmakers and others — the Solyndra of the electric car industry. Not only private backers but millions of dollars in government loans gave life to a company, some would argue, that was a shaky investment from the start.

No electric vehicle initiative backed by Washington seems more of a debacle than Fisker, which was given a $529 million federal loan in 2009 to advance the project.

Read the full story here.

 

 

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