Read it and weep. Fisker has received $192 million from taxpayers. The company has laid off most of its workers.
In a statement Monday, the Energy Department said it recovered $21 million from the company’s reserve account on April 11 as it continues to seek repayment from the car maker for a 2009 loan commitment awarded by the Energy Department. A payment from Fisker was due Monday, but was not made, a DOE official said.
It should come as no surprise that subsidizing companies and/or technology that isn’t viable in the marketplace will lead to this kind of debacle. Remember Solyndra?
We also shouldn’t be surprised that the company is coming up empty on a buyer.
Fisker, maker of the $100,000-plus Karma hybrid sports car, has not built a vehicle since last summer and has failed to secure a buyer as its cash reserves have dwindled.
