Source: Delaware Online
quote: I don't know if they had some wise financial analysts on the team who wrote the script or what, but it was almost prophetic.
quote: Exactly, but it's a Government fueled "green bubble" that's destined to burst one day. But until that day, people are going to be motivated to take all the "free" money they can. It's really time to stop nearly 100% of Government funded "green" projects and grants. We're getting NO return on our so-called "investment".Fisker was never about making cars. Only an idiot could possibly think that plan was ever going to work.
quote: Wired: GM went bankrupt; Chrysler is disintegrating. Is this really a good time to start a car company? Henrik Fisker: It’s the perfect time. Especially for an environmentally minded automaker. Governments are handing out money—in April we got a $529 million loan from the US Department of Energy—and consumers are ready to change their lifestyles in the name of the environment. Wired: You went from incorporation to unveiling a car at the Detroit Auto Show in only five months? That’s insane. Fisker: Well, it was really just a shell; it didn’t even have a drivetrain. Wired: OK, you had a shell in 2008—yet you promised delivery by 2010? Fisker: You know what? Starting a car company is risky. We were brand-new, and we needed investment to develop our car. But we needed a car to attract those investors.
quote: You can call them stabs in the dark, but they are a big part of what's made the US economy so powerful in the last 50 years if not longer. The reason is that the misses are a tiny fraction of GDP, and the DOE grants are no different. $16B in loans over 4 years is around 0.03% of GDP, 1% of total auto related GDP. They've ensured that the US leads EV research and production by a huge margin. Just raising the white flag and letting China and their subsidies snatch that market is bad policy.