Um, about that $337 million.

Fisker Automotive and its pending federal government loan has spurred a letter from two U.S. senators to Energy Secretary Steven Chu questioning the appropriateness of the loan, The Detroit News reports.

In their letter to Chu, senators John Thune (R-South Dakota) and Chuck Grassley (R-Iowa) reportedly question the $529 million loan in part because of Qatar's ownership stake in the plug-in hybrid automaker. The senators also inquired about the loan earmarked for Fisker partner A123 Systems, the company whose batteries have been subject to a recall.

Fisker spokesman Roger Ormisher tells The Detroit News that the company is staying out of politics and focusing on creating U.S. jobs. California-based Fisker was granted the loan in 2010 but has drawn down just $193 million to date.

Energy Department spokesman Damien LaVera argues the loan was an appropriate part of the federal government's effort to help boost fleetwide fuel economy and said Fisker's delays are "common for start-ups," according to the report.

Last week, Fisker debuted its first national advertising campaign in a multi-page Wall Street Journal ad that included a statement from company founder Henrik Fisker proclaiming that the automaker has "set out to redefine and reshape how the world thinks about cars." Fisker also recently widened its European distribution network.

Upon securing the original loan grant, Fisker was slated to hire 2,000 people at a Delaware factory that was formerly run by General Motors. Production of the Fisker Atlantic shown above, which was originally scheduled to be produced at the Delaware plant, has been delayed until at least 2014.


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    • 1 Second Ago
  • 115 Comments
      Say NO to libs!
      • 2 Years Ago
      Every time you add it: Green + Energy = FRAUD.
      rjen164497
      • 2 Years Ago
      What a BS article. There are no plans for U.S. production. Obama just pissed away more money that put jobs overseas. As the old saying goes " How can you tell Obama and his Socialist Party are lying?" "Their mouths are moving." It must be Bushes fault. Bush made him give money to Fisker and Soylindra.
      vandation
      • 2 Years Ago
      Let's see .... $193,000,000 for "2,000 slated" jobs .... as in no jobs yet ..... so even if those 2,000 jobs are filled in the US ........... isn't that over $96,000 PER JOB ? I wonder how many of those jobs even PAY that amount ? Also .... isn't the FAILURE rate for "startups" somewhere in the range of 80-90% conservatively ?
      gjterranov
      • 2 Years Ago
      "Fisker spokesman Roger Ormisher tells The Detroit News that the company is staying out of politics and focusing on creating U.S. jobs." Creating US jobs? http://abcnews.go.com/Blotter/car-company-us-loan-builds-cars-finland/story?utm_source=Newsletter&utm_medium=Email&id=14770875&utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell You won't believe this story about a Govt. Stimulus Program from the Obama Administration… You draw your own conclusions… This is a deal that Al Gore put together to stimulate Auto Worker Jobs but in Finland... Sad to say the least.
      • 2 Years Ago
      [blocked]
        Randy
        • 2 Years Ago
        Tesla actually has income from selling batteries to other car markers. They might actually pull it off. Fisker / I'm not sure...
          • 2 Years Ago
          @Randy
          [blocked]
          Coopwrx
          • 2 Years Ago
          @Randy
          I agree. Tesla might be the only one to make it out. That might be because the guy running it is actually smart.
      xessexcva9
      • 2 Years Ago
      All the bullcrap about "creating US jobs" is just smoke and mirrors from liars if it's a foreign company. They may create a few jobs here, but the PROFIT goes to foreign scumbags and boosts that countrys economy. We just get the breadcrumbs. Thereis no way that our government should be in the banking business, loaning OUR tax money to anyone. In the first place there's no one working for the fed with enough brains to handle it. Second, if it's such a great idea, why have the banks not jumped all over these loans? Answer is simple. While the bankers may all be theives and liars, they are NOT stupid. The technology is not in place YET. We do not have to have electric cars today.
      carptcapt
      • 2 Years Ago
      Loans, its not a loan its a gift from King Obama. Just file bankrupcty after you get the loan and enjoy life, its worked for all these other green energy companies.
      joeypad
      • 2 Years Ago
      another piss away of taxpayer money
      Marshall Knight
      • 2 Years Ago
      obozo, he's special ain't he. especialy with your tax money. every body needs to see the movie by Dinesh D'Sousa titled "2016 obama's America.
      imd89
      • 2 Years Ago
      You want a good return on a investment pay for Obama.s move out of Washington.
      AXTAXDAVIS
      • 2 Years Ago
      Isn't amazing : BILLIONS FOR GASOLINE CAR CO's and OIL SUBSIDIES , but almost nothing for electric car co's?? Now tell me who is congress taking directions from?
        Koz
        • 2 Years Ago
        @AXTAXDAVIS
        Thats because electric cars are actually useless as compared to gas powered. Limited range, high initial cost, slow rate on return, low trade in value.
      eddewll
      • 2 Years Ago
      Nothing crooked about this administration. LOL
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