Department of Energy Reclaims $21M From Fisker
The U.S. Department of Energy recovered $21 million from Fisker Automotive, the floundering company behind the Karma plug-in hybrid luxury car.
That’s still a far cry from the roughly $192 million in DOE loans it still owes the government.
“Given the obvious difficulties the company is facing, we are taking strong and appropriate action on behalf of taxpayers,” Fisker said in a statement.
Originally, Fisker was granted $529 million in loans, but the government cut that short when the maker’s sales and production faltered.
Automotive News reports that there is a hearing scheduled for Wednesday with a U.S. House panel to examine the maker and its government funding.
[Source: Automotive News]
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Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
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