Press Release

BEYOND BELIEF: DOE’s “Beyond Solyndra” Propaganda Points to Company Whose Loan Was Suspended Amidst Layoffs as “Validation” of Policies


Success Story? Fisker, who received $529 million loan to make $102,000 electric sports cars, has announced layoffs and reports suggest taxpayer-funded company may never build cars in the U.S.

In an astonishing piece of propaganda entitled “Beyond Solyndra,” the Obama administration today points to an electric car company whose loan has been suspended as an example to validate their massive federal efforts. Unfortunately, the sad reality is even when you get “Beyond Solyndra,” the Obama Department of Energy’s risky investments are still littered with failure:

  • Solyndra – The solar manufacturer received a $535 million DOE stimulus loan guarantee – BANKRUPT
  • Beacon Power – The solar company received a $43 million DOE stimulus loan guarantee – BANKRUPT
  • A123 – The battery maker received a $249 million DOE stimulus grant – LAYOFFS
  • Fisker Automotive – The electric vehicle manufacturer received a $529 million DOE ATVM stimulus loan – LAYOFFS

DOE pointing to Fisker as evidence of their green jobs success is a puzzling blunder. Does the administration understand what is happening with the billions in taxpayer dollars that they have handed out? President Obama’s own DOE suspended Fisker’s loan when they ran into financial trouble and started laying off workers. “Beyond Accountability” or “Beyond Belief” would be a better title suited for the slideshow.

Fisker, out of government money, begins layoffs
USA TODAY, Feb 7, 2012

Fisker announces layoffs, renegotiates loan
Reuters, Feb 7, 2012

Fisker announces layoffs as automaker misses targets, has DOE loans frozen
FOX NEWS, Feb 7, 2012

Biden-backed Fisker Delaware auto plant, 2500 jobs, in doubt
Philadelphia Inquirer, April 4, 2012

Bad Karma: Our Fisker Karma plug-in hybrid breaks down
Consumer Reports, May 8, 2012

Fisker hints of never building electric cars in the U.S.
AUTO WORLD NEWS, May 31, 2012

DOE Puts Fisker on list for “Recognition and Validation from the Private Sector”

See the DOE Slide Show HERE


Press Release