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
  • 114 Comments
      Al
      • 2 Years Ago
      Our goverment is still wasteing our money on the worthless auto makers. Way to go people, lmao
      arnoldhoneybrown
      • 2 Years Ago
      Hey just a helping hand from one Muslim ,Obama to another . Country going broke an we are lending money to a maker of cars for the 1% 's . WOW how stupid !!
        2 Wheeled Menace
        • 2 Years Ago
        @arnoldhoneybrown
        Well, this is a strange troll. I'm not sure if you're with occupy wall street or the tea party.
      bakethis
      • 2 Years Ago
      How much grant money did the Stanley Steamer Co., Henry Ford, the Dodge Bros., Chrysler, etc. get back when they started up their new ideas?
        PR
        • 2 Years Ago
        @bakethis
        Ford received a much larger loan from the exact same program that Fisker got their loan from. Both companies are getting loans to start up their new fuel saving ideas. You can stop shaking yourself into a furry now.
        • 2 Years Ago
        @bakethis
        Actually, the government bailed out Chrysler decades ago when Lee Ioccoca took over.....Then again 3 years ago........Both loans were successful, and both times the government was paid back, keeping good paying American union jobs in America.....
      lrjett
      • 2 Years Ago
      Oh well, vote for Obama in 2012, and expct much more of the same. He just keeps giving money that we do not have to everyone who aska. $600 Million to a car company in another country, $50 Million to Yemen. The US is bankrupt and about 25 million are unemploiyed, Millions are homeless and starving. But the Obamas live well, $100.00 per pound beef steaks, $4 million dollar Xmas vacations, $50,000 a week rental for vacation homes. flying around on AF 1 at the rate of $180,000.00 per hour. ONLY YOU CAN CHANGE THAT. DO YOU HAVE THE GUTS TO GET RID OF THIS BUNCH OF FREE LOADERS IN nOVEMBER?????"?????????????????????????/
      leemillson
      • 2 Years Ago
      Looks to me like Someone paid off someone high in the Whitehouse.
        Marco Polo
        • 2 Years Ago
        @leemillson
        @ leemillson " Someone paid off someone high in the Whitehouse." Thank you, I'll have that damn maintenance guy drug tested tomorrow !
      • 2 Years Ago
      Just one more example of the taxpayers funding the supporters of the corrupt Social Democratic THUG minority that control our federal govt and use the constitution for their toilet paper. My children and grand children are on the hook for $0.40 on the $1 in debt just to keep the lights on, and these Marxists want to spend MOREMOREMORE. Are YOU a MAKER or a TAKER? Live Free or Die MFs...
        PR
        • 2 Years Ago
        mybutsucker-- I'll make you a deal. I'll pay you every penny you've fronted in loans to Fisker, and when Fisker pays back those loans with interest, you pay me back my money with interest. In exchange, you pay me every penny I've paid out of my pocket in taxes to pay for Oil Wars, and oil subsidies, and since these costs will never get payed back, I'll never pay you back anything either. Sound like a good deal to you? (db1analy -- now you know the difference between the two)
        Spec
        • 2 Years Ago
        The funny thing here is that if you take every single one of these programs that you whine about (Solyndra, Fisker, A123, etc.) and add them all up . . . they make up less than 1% of the money spent on the pointless Iraq war. Yet somehow that never dawns on them.
          db1anonly
          • 2 Years Ago
          @Spec
          So you give them a pass! How stupid can it be, one wrong don't make a right!
      • 2 Years Ago
      2012 Fisker Karma 2012 Fisker Karma Photos Specs Reviews Research MSRP: $102,000 - $116,000
      bummybuzz
      • 2 Years Ago
      Lending taxpayer money to a foreign-owned is unbelievable even for this fumbling admin.
        legalcld
        • 2 Years Ago
        @bummybuzz
        Its called "spreading the wealth"$$$
        Grendal
        • 2 Years Ago
        @bummybuzz
        It's called "you need to do more research before you say something stupid and incorrect."
      2 Wheeled Menace
      • 2 Years Ago
      OK. Who fed a mob of angry "conservatives" bath salts and sent them this way? There's gonna be hell to pay.
        norbekauss
        • 2 Years Ago
        @2 Wheeled Menace
        MORON!
        Spec
        • 2 Years Ago
        @2 Wheeled Menace
        Yeah, I think this article got cross-posted to AOL's Glenn Beck fan club or something.
        PR
        • 2 Years Ago
        @2 Wheeled Menace
        2WM -- Now you know how I feel when bath salt imbibing "Libertarians" knee-jerk attack the gov't at every opportunity....
      jhallultra00
      • 2 Years Ago
      Smells like another solyndra.
        PR
        • 2 Years Ago
        @jhallultra00
        what? forced out of business by foreign companies illegally dumping subsidized below cost products, like what took down solyndra?
      STEVE
      • 2 Years Ago
      I applied for a $35,000 to RESTOCK our family farm; appraised value gives us $160,000 in equity with a 26% debt to income ratio, with $56,000 income and we were told no by ALL government agencies. And then I read crap like this; makes me want to violently go after someone but who.
        Marco Polo
        • 2 Years Ago
        @STEVE
        @ STEVE These are loans given to assist the development of alternate energy. Perhaps if you could hook your livestock up to a bio-mass generator .....?
      kerrlakeroo
      • 2 Years Ago
      "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. " Hmmm cute claim except,,, the company built new production facilities in Europe right after getting those loan guarantees. With the ONLY functional plant being in Finland. The commute must really suck for those 2000 Delaware workers.
        Spec
        • 2 Years Ago
        @kerrlakeroo
        *sigh* . . . don't you ever get mad at the people that lie to you and make you look like an idiot? -The Karma was always planned to be made at the contract manufacturer Valmet in Finland. (The company did not build production facilities ANYWHERE.) -The Delaware plant was for the Nina (now Atlantic) car. That car is indeed behind schedule and it is not currently known where it will be built. -Hence, the loan was suspended. Now don't you look like a fool? Yes, you do. But you'll still worship the am radio propagandist that told you all that garbage. Why? I do not know.
        JakeY
        • 2 Years Ago
        @kerrlakeroo
        You are mixing up the Karma and the Atlantic (they look similar but they are not the same). The Karma is the large car they are selling and producing now. That's being assembled in Finland by a contract manufacturer. Part of the ATVM loan paid for the engineering, design, and parts facilities in the US for the Karma. The rest is paying for the facilities for the smaller Atlantic (pictured and not yet in production). That car will be assembled in the US. As per terms of the ATVM loan, none of the funds can be used to build facilities outside the US.
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