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Millions In US Taxpayer Money To Build Electric Cars–In Finland

Biden Announces Conversion Of Idled GM Plant To Electric Car Manufacturing
(Photo by Jeff Fusco/Getty Images)

The bankruptcy and subsequent collapse of controversial solar energy company Solyndra has shed new light on other Obama administration “green” projects;  now the spotlight is on an automaker who took millions in US taxpayer funded loans to build electric hybrid cars…in Finland.

Two years after VP Joe Biden trumpeted the 529 million Federal Investment in the Fisker Car Company which was supposed to build luxury electric hybrids in his home state of Delaware,  the company has set up shop in Finland.   Over 500 plus new jobs have been created, but the are NOT in Delaware or anywhere else on US soil.  According to company owner Henrik Fisker, there was no contract US Manufacturer who could actually produce their vehicle.  He claims the US taxpayer money has stayed in the US, being used for research, development, engineering and design; the actual manufacturing jobs are in Finland-much to the dismay of  the Center For Public Integrity’s I Watch.   Fisker is one of two electric-hybrid car companies that the Feds have dumped over a billion dollars into, the other being CA based Tesla Motors.  Fisker officials claim they will soon be cranking out the 97k Karma vehicles at a shuttered GM plant they purchased in Delware, While Tesla claims it will be doing the same with it’s 57k Model S from a plant in the Silicon Valley.   However many officials fear these companies, especially Tesla, will become just like Solyndra.  That company defaulted on hundreds of millions in Federal Stimulus money, laid off 1,100 workers and went bankrupt.  SEC filings show the Tesla company has lost money every quarter and experts doubt the company is up to the task of building such an ambitious project.  When asked if Fisker could be another Solyndra, the founder said absolutely not.  Meanwhile, Wednesday, the company announced it was pushing back the release date for it’s new sedan model to 2013.

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