SYNDICATED NEWS
PHOTO CAPTION: Fisker Automotive received $192 million to develop the Atlantic, which was to be built at former GM plant in Delaware.

Pennsylvania Congressman Defends Electric Car Loans

Freshman Congressman Matt Cartwright (D. Pa) argues the $192 million received by Fisker before the loan was suspended represents just 2 percent of the overall loan program.

Published: 28-Apr-2013

Easton's congressman on Wednesday defended the nation's $8 billion loan program to boost electric cars and other advanced vehicles, during a heavily politicized hearing focusing on troubled automaker Fisker Automotive Inc.

The Energy Department did not realize for four months that Fisker had missed a crucial production target that was required as part of a half-billion dollar government loan, documents released Wednesday show. The mistake allowed Fisker to obtain an additional $32 million in government funding before the loan was suspended in June 2011.

Rep. Matt Cartwright, a freshman Democrat whose 17th Congressional District in Pennsylvania includes the Easton area, said the $192 million received by Fisker before the loan was suspended represents just 2 percent of the overall loan program.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

First production Karma to be completed at Valmet plant in Finland.

Senior director of global corporate communications and public relations for Fisker Automotive defends company against allegations.

Fisker Atlantic hybrid concept car.

Zero-to-60 acceleration estimated at 6.5 seconds and CO2 emissions approximately at 5g/km.

1000 Fisker Karmas have been delivered to date in North America and Europe..

The closely held company has delivered 1,000 Karmas, priced from $103,000, in the U.S. and Europe since December.

READER COMMENTS

blog comments powered by Disqus