In what's shaping up to be a trend in the alternate-fuel startup world, Fisker has just announced layoffs of 26 employees from the brand's Delaware factory. Those let go were made up, in part, of employees set to help make Project Nina -- the company's second vehicle -- a reality.
"It's temporary," Roger Ormisher, Fisker Spokesman, said. "We're being prudent and sensible as a company."
Fisker, the recipient of $193 million in government funding, has delivered between 250 and 300 Fisker Karmas thus far and has managed to raise over $650 million in private-sector funding. The DoE isn't worried about their (our) investment, though, "Our loan guarantees have strict conditions in place to protect taxpayers...As Fisker works through those issues and incorporates lessons learned from the production of the Karma, the Department is working with Fisker to review a revised business plan and determine the best path forward so the company can meet its benchmarks, produce cars and employ workers here in America," said DOE spokesman Damien LaVera. Fisker has asked the DOE to revise its targets.
Fisker doesn't have the funding (read: uber-rich CEO) that Tesla does, will we ever see Project Nina?
transpower says:
07:10 AM, 02/ 7/12
I'm utterly opposed to any taxpayer backing of any company....
stovt001 says:
11:33 AM, 02/ 7/12
@transpower: define taxpayer backing. Most of the people who slammed GM and Chrysler for their government loans have no problem at all with other manufacturers receiving tax breaks and subsidies. Taxpayer money that goes to defense, law enforcement, the justice system, etc create a stable business climate. How about regulations that impact an industry, handed down by a bureaucracy funded by taxpayers. What about foreign firms subsidized by their governments, either directly or through currency manipulation. I don't disagree with your point in general, but the effects of government of private firms are far more nuanced than just firms that receive loans and those that don't.
More specific to this situation though those DOE loans seem to have been unwisely administered at best, politically bought at worst and I'm opposed to them.
06scooby says:
04:24 PM, 02/ 7/12
So what do these cars sell for? 100k. if so @ 300 cars they've raised 30 million in revenue... that got a long way to go to be profitable if they are starting out 843 million in the hole.... they better get to moving some product otherwise we aren't going to see a return at all(which like stovt's point I don't necessarily support us as taxpayers being investors).
billt9 says:
09:57 PM, 02/ 7/12
Why is the government funding these projects that benefit only the wealthy customers?
Government funded alternative fuel projects should be aimed at the middle/lower class.
Private sector funded projects should aim for the wealthy.
Government funding should be aimed at equality and distributing to the masses, <=$25,000 cars, not expect a return from the investment (as it's impossible to make money off the poor), while allowing the wealthy to do their own stuff.