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Thread: Car Company Gets U.S. Loan, Builds Cars In Finland

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    Car Company Gets U.S. Loan, Builds Cars In Finland

    Why are we the tax payers giving loans to companies to make **** in other countries?

    Car Company Gets U.S. Loan, Builds Cars In Finland - ABC News

    With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.
    Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company's manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.
    "There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company's founder and namesake told ABC News. "They don't exist here."
    Henrik Fisker said the U.S. money has been spent on engineering and design work that stayed in the U.S., not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive.
    "We're not in the business of failing; we're in the business of winning. So we make the right decision for the business," Fisker said. "That's why we went to Finland."
    The loan to Fisker is part of a $1 billion bet the Energy Department has made in two politically connected California-based electric carmakers producing sporty -- and pricey -- cutting-edge autos. Fisker Automotive, backed by a powerhouse venture capital firm whose partners include former Vice President Al Gore, predicts it will eventually be churning out tens of thousands of electric sports sedans at the shuttered GM factory it bought in Delaware. And Tesla Motors, whose prime backers include PayPal mogul Elon Musk and Google co-founders Larry Page and Sergey Brin, says it will do the same in a massive facility tooling up in Silicon Valley.
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    Re: Car Company Gets U.S. Loan, Builds Cars In Finland

    "Henrik Fisker said the U.S. money has been spent on engineering and design work that stayed in the U.S."

    Money well spent, then.
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    Re: Car Company Gets U.S. Loan, Builds Cars In Finland

    I saw something about this on the news today. They said one reason the auto maker bailed from the US is over regulations that would make profit unattainable. Not only that but the price of the car is $97,000.

    Additionally, the report stated that the car could operate on electricity the first 32 miles and would then depend on fossil fuel (gas) to operate after that. Then the gas mileage is 19 mpg.

    So much for an electric car that gets less gas mileage than a Ford SUV...

    So who's supposed to be able to buy this car if the rich spread their wealth like Obama wants?

    Another waste of tax payer money. I wonder if the OWS crowd know about this misadventure from the Obama administration?

    Obama-Pissing-USA.jpg
    Last edited by Μολὼν λαβέ; 10-21-11 at 06:51 PM.
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    Re: Car Company Gets U.S. Loan, Builds Cars In Finland

    Quote Originally Posted by Μολὼν λαβέ View Post
    I saw something about this on the news today. They said one reason the auto maker bailed from the US is over regulations that would make profit unattainable. Not only that but the price of the car is $97,000.

    Additionally, the report stated that the car could operate on electricity the first 32 miles and would then depend on fossil fuel (gas) to operate after that. Then the gas mileage is 19 mpg.

    So much for an electric car that gets less gas mileage than a Ford SUV...

    So who's supposed to be able to buy this car if the rich spread their wealth like Obama wants?

    Another waste of tax payer money. I wonder if the OWS crowd know about this misadventure from the Obama administration?

    Obama-Pissing-USA.jpg
    It would be interesting to find out how much fossil fuel has to be burned to provide the electricity to take it the first 32 miles.

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    Re: Car Company Gets U.S. Loan, Builds Cars In Finland

    Quote Originally Posted by jamesrage View Post
    Why are we the tax payers giving loans to companies to make **** in other countries?

    Car Company Gets U.S. Loan, Builds Cars In Finland - ABC News

    With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work.
    Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the company's manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland.
    "There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company's founder and namesake told ABC News. "They don't exist here."
    Henrik Fisker said the U.S. money has been spent on engineering and design work that stayed in the U.S., not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive.
    "We're not in the business of failing; we're in the business of winning. So we make the right decision for the business," Fisker said. "That's why we went to Finland."
    The loan to Fisker is part of a $1 billion bet the Energy Department has made in two politically connected California-based electric carmakers producing sporty -- and pricey -- cutting-edge autos. Fisker Automotive, backed by a powerhouse venture capital firm whose partners include former Vice President Al Gore, predicts it will eventually be churning out tens of thousands of electric sports sedans at the shuttered GM factory it bought in Delaware. And Tesla Motors, whose prime backers include PayPal mogul Elon Musk and Google co-founders Larry Page and Sergey Brin, says it will do the same in a massive facility tooling up in Silicon Valley.
    Trillions are being sunk down rat holes and many Americans want it to continue. This has to be an historical first.

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    Re: Car Company Gets U.S. Loan, Builds Cars In Finland

    Quote Originally Posted by Grant View Post
    Trillions are being sunk down rat holes and many Americans want it to continue. This has to be an historical first.
    They think the fix for rat holes is to find more rat holes, yeah.

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