What does this have to due with this discussion about the bad decisions made by OBAMA?
Stay on point, I know this is hard for Liberals to do, especially when they are owners of big financial investments that fail. How many failures does this bring us up to now for Obama?
Check the net net bottom line margins on the oil and insurance companies to KNOW they are paltry when compared to Google, Apple, Yahoo etc. with insuance companies averaging 3 to 5% and oil 7 to 9% while Google, Apple, Yahoo etc are averaging 25 to 31%. You dems are so naive and never do the actual math but just spout the dem talking points. And why do the dem DC politico bandits instruct you to so hate oil/insurance? Why simple, because they know you need it daily so makes a great class warfare target!
Fisker Automotive was granted a 529 million government loan by President Obama to build their cars in America. Those funds are now gone and as a final insult to the American Taxpayers Fisker's state of the art factory was built in Europe. Green Energy is a pipe dream by phantasy advocates of the Left.
Fisker did not build a plant in Europe. They contracted out the build to Valmet Automotive in Finland that also builds some model Porsche. They were planning to make a less expensive car in the eastern US and snagged BMW as the IC engine supplier. The expensive Karma model used a relatively crude Pontiac engine, a negative in such an expensive car. That business plan was why they were funded.
IMO, they shouldn't have been funded since they weren't innovative enough. A US company still hasn't built a performance hybrid, but EU companies are inclined to do that.
Tesla was also funded but more reasonably. They were a technical step that no one else has taken. Their insight was that they could build a better car by going electric at the high end and have delivered along with many other innovations. Building a more mass market vehicle does await better battery tech which would give their high end as much range as a gasoline powered car. Billions are being spent on battery R&D around the world so it's not a bad bet. Tesla's loan has already been paid back. It's management and technical team were much better qualified than Fisker's were.
It's a reality that both companies were funded when it wasn't clear that the US would be bailed out of the unsustainable drain of energy imports. US trade deficits in the previous decade has been deadly if carried on.