Car Company Gets U.S. Loan, Builds Cars In Finland(UPDATE)

An interesting tidbit on our current administrations effort to create more green jobs. From ABC's The Blotter HERE, problem is, they're in Finland!

"With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work."


Another 500 mil down the tubes as far as the United States is concerned. But we can always count on  our vice president coming in with the usual great lines in selling this new investment.


"Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs.


And we bought that?


But two years after the loan was announced, the company's manufacturing jobs are still limited to the assembly of the flashy electric Fisker Karma sports car in Finland."




"There was no contract manufacturer in the U.S. that could actually produce our vehicle," the car company's founder and namesake told ABC News. "They don't exist here."


Does anyone wonder why that is. Hell, China is making the batteries for the Chevy Volt, what does that say.  Another curious fact. It wouldn't possibly be because of the over regulation that most of the plants, that deal with type of technology, here in the United States have to put up with, would it.


Not even a whimper from the U.A.W.


"Henrik Fisker said the U.S. money has been spent on engineering and design work that stayed in the U.S., not on the 500 manufacturing jobs that went to a rural Finnish firm, Valmet Automotive."


If one is to buy into that line, I've got a used car that I'd like to sell ya!


"We're not in the business of failing; we're in the business of winning. So we make the right decision for the business," Fisker said. "That's why we went to Finland."


The words in that last line I underlined speak volumes!

UPDATE

From Forbes HERE

"As I calculated in my earlier Forbes article, one needs to multiply the EPA MPGe by .365 to get a number that truly compares fossil fuel use of an electric car with a traditional gasoline engine car on an apples to apples basis.  In the case of the Fisker Karma, we get a true MPGe of 19.  This makes it worse than even the city rating of a Ford Explorer SUV.

Congrats to the Fisker Karma, which now joins corn ethanol in the ranks of heavily subsidized supposedly green technologies that are actually worse for the environment than current solutions."

Making it all a so much better deal for all of us. I read elsewhere that only two of these cars have been sold to the public.


That's what happens when the government is allowed to try and pick winners. I have no doubt that this all has to do and boils down to campaign contributions......that's how it ALWAYS works!!