Al Gore-Backed Electric Car Company Gets $529M Loan

Krootie · 09-27-2009, 04:42 PM

Excerpt from the Wall Street Journal article

WASHINGTON -- A tiny car company backed by former Vice President Al Gore has just gotten a $529 million U.S. government loan to help build a hybrid sports car in Finland that will sell for about $89,000.

The award this week to California startup Fisker Automotive Inc. follows a $465 million government loan to Tesla Motors Inc., purveyors of a $109,000 British-built electric Roadster. Tesla is a California startup focusing on all-electric vehicles, with a number of celebrity endorsements that is backed by investors that have contributed to Democratic campaigns.

(Another two seater convertible!)

SunDiego · 09-27-2009, 05:42 PM

The Fisker Karma S (convertible) looks amazing!

BigWarpGuy · 09-27-2009, 06:34 PM

It would have been nice to see that money go to support car companies that make electric vehicles that most can afford; especially if they are using American tax money.

Affordable electric cars.
"While we love hearing about sweet rides like the $100K Tesla Roadster, a functional and economical electric car made for the rest of us would be even cooler."

Triac; a three wheeled Smart car?

Green Vehicles
At $24,000.00, It is way more affordable than the Tesla; IMO.

I wonder how many other companies that make affordable electric vehicles that could have received at least part of that money.

vwW12 · 09-28-2009, 04:23 AM

Quote:

Originally Posted by Krootie

$529 million U.S. government loan to help build a hybrid sports car in Finland that will sell for about $89,000

Woody14619 · 09-28-2009, 01:05 PM

@vwW12: If you read the article, it clearly states later that the grants went to their facilities are here in the US:

Quote:

DOE officials spent months working with Fisker on its application, touring its Irvine, Calif., and Pontiac, Mich., facilities and test-driving prototypes.

The original article linked to is from the "Political Opinions" section of the WSJ. Am I wrong in believing that posting a political opinion piece (even one masquerading as a news story) is taboo here?

Duckhunter · 09-28-2009, 01:25 PM

Quote:

Originally Posted by Woody14619

@vwW12: If you read the article, it clearly states later that the grants went to their facilities are here in the US:

The original article linked to is from the "Political Opinions" section of the WSJ. Am I wrong in believing that posting a political opinion piece (even one masquerading as a news story) is taboo here?

Was not going to comment as I could tell from the headline how article was going to be one sided. I think some post just to get a response. It would be nice if the cost does come down to make these cars more affordable for the mass market. Hard to start a new company with new technology and have it be cheap.

more from the article that some do not highlight:

Matt Rogers, who oversees the department's loan programs as a senior adviser to Energy Secretary Steven Chu, said Fisker was awarded the loan after a "detailed technical review" that concluded the company could eventually deliver a highly fuel-efficient hybrid car to a mass audience. Fisker said most of its DOE loan will be used to finance U.S. production of a $40,000 family sedan that has yet to be designed.

**Dunerunner** · 09-28-2009, 02:19 PM

I believe this thread to be news worthy and have already removed two posts and edited another to keep it from becoming political. As long as we can discuss the car, engineering, and potential benefit it will remain.

Smartdavis · 09-28-2009, 03:35 PM

I don't believe you can create a market for a car just because you throw a bunch of money (ours) into designing it. Who's grid do you plug it into? Maybe electricity is cheaper in Finland, but the economics of this car don't make any sense right now. It might make sense if we were willing to build a couple of hundred new nuclear power plants, because there is no way that windmills are going to make this affordable. I'll be sticking with my gas powered and highly efficient Smart car.

Duckhunter · 09-28-2009, 03:46 PM

we have the electricity generating power now as you normally would plug it in at night during low energy consumption. We would require less new generation plants if we do retrofit our buildings to use less. I remember when insulation was only used in the roof and then just a little. Now most new houses use as much insulation as possible in walls, doors and windows. I would be interested in some sort of diesel or gas electric type of vehicle where you operate an engine at peak power and generate electric power for motors at the wheels to drive the car. I think this could be done cheaper and more reliably.

Krootie · 09-28-2009, 03:54 PM

As a senior female babyboomer, I find this recent editing disturbing.

"Last edited by Dunerunner; Today at 05:15 PM.. Reason: link removed due to political content."

I thought America had "Freedom of Speech", and personally didn't find the article political but more informative as investments in future automotive research - for family vehicles as well.

The Link that I posted should remain and Dunerunner needs to read and comprehend the entire article. If someone is flaming - then remove their post - NOT MINE.

What's happening to this forum??? It's becoming too Funky for my taste. I want my $$$ back if this keeps up.