Anaheim-based Fisker Automotive is covered in the Daily Caller today: Fisker lost $557K per electric vehicle sold. In part,
The company’s Fisker Karma sold for about $103,000 per vehicle, meaning the company took a hit of $557,000 every time it sold its product. The company was also allowed to continue to draw down on a $529 million Department of Energy loan after violating the loan’s term multiple times, according to a report by the New York-based research firm PrivCo. According to the report, the Department of energy knew that Fisker was not meeting goal required to keep receiving taxpayer dollars. The DOE cut off funding to the company in June 2011, allowing taxpayers to lose $193 million.
The LA Time$ is also reporting they’ve (predictably) missed a loan payment to the Feds: Fisker Automotive misses Energy Department loan payment. In part,
Fisker laid off most of its workers this month. Analysts said the move, following the hiring of a bankruptcy law firm last month, probably signals the death of the Anaheim company, which was founded by auto designer Henrik Fisker in 2007 with great hopes of selling highly styled hybrid sports cars and sedans.
UPDATE (4.24.13) — There’s even more on the government’s failure in dealing with Fisker from CBS and the AP today: WH knew electric car maker Fisker was faltering: AP.