Monday, October 24, 2011

Fisker Gets Loan Scrutiny

Irvine-based Fisker Automotive, the developer of electric vehicles, is getting some serious scrutiny over its acceptance of $529 million in U.S. loans, after the Washington Post ran an investigative story on the firm--comparing it to the ill fated efforts of solar power firm Solyndra. The Post's article says that Fisker is "two years late" in reaching the market, pointed at the firm's decision this week to delay until 2013 its production of a moderately priced family sedan, and pointed out issues with meeting energy-efficiency standards with its Karma.