Fisker Automotive has had a tough year, making the news for everything from recalls to presidential politics – Mitt Romney called the company a "loser" during the debates – to a car catching on fire to Justin Bieber chroming his Karma plug-in hybrid (PHEV) and then getting paparazzi involved in a crash as they chased after him.

A lot of this was not the company's fault. Who can control Bieber, after all, or what gets said in the heat of a campaign? Also, the fire was not due to the advanced plug-in hybrid powertrain in the Karmas, but was instead the fault of a shoddy cooling fan. But still, the problems piled up. Now there's a new one.

Add the oldest state in the union to the list of who Fisker might owe money to if expansion plans for its extended-range plug-in vehicles fall through. California-based Fisker, which at one time planned to open a factory in Delaware for production of the Atlantic PHEV by the end of this year, could owe the state $21.5 million (in the form of a repaid grant and loan) if those plans never materialize, Delaware Online reports.

Fisker, which had said the plant would employ about 2,500 workers at the factory, would owe $12.5 million if the automaker hires between 1,500 and 2,500 people, and another $9 million if Fisker doesn't hit the 1,500-worker quota. The latest news is that Fisker could start production on the Atlantic in 2014 or 2015, but where and when, exactly, has not been announced.

Either way, Fisker's obligation to Delaware would come after the company repaid the approximately $200 million it owes the US government. This money is part of a Department of Energy loan that was initially slated to be $529 million had Fisker hit certain production deadlines and targets for its first model, the Karma. Those didn't happen, and now a problem with an important supplier continues to hold things up. Fisker production is frozen while bankrupt battery supplier A123 Systems clears up its ownership situation. Earlier this month, the China-based Wanxiang Group reached an agreement through the Delaware bankruptcy court to buy A123 Systems, though that agreement is being scrutinized by some members of Congress over the potential leakage of US trade secrets to China. Johnson Controls isn't done with the deal, either.


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  • 354 Comments
      Joe
      • 4 Months Ago
      The ship of state will never be righted until the media is restored to reporting facts instead of sensationalizing irrelevant BS to capture the attention of the uninformed population. The role of the media is to report the news, not to make the news. This article is typical of what the media lacks. Why should any reasonably intelligent person give a rat’s ass about Justin Bieber’s casual association with this automobile manufacturer? Why are the actions or opinions of any “celebrity” worthy of reporting? Celebrity status certainly does not come with intrinsic knowledge or capabilities outside of the one talent that makes them famous. Why is so much of the news devoted to irrelevant celebrity rather than important issues? Where are the facts about Fisker Automotive, A123 Systems, Solyndra, etc that tax payers should be aware of? What motivation influenced the Department of Energy to commit hundreds of billions of stimulus tax dollars to back private loans on failed and faltering “green” fiascos without reasonable assurances of success? Where are the facts rather than speculation like, “The latest news is that Fisker could start production on the Atlantic in 2014 or 2015, but where and when, exactly, has not been announced.” Why isn’t this public knowledge since we are the investors? Why did the head of the “transparent” Obama administration’s controversial clean energy loan program prohibit personal email addresses in official correspondence to prevent the personal accounts from being subpoenaed? I want the facts to be reported, don’t you?
        Oracle
        • 4 Months Ago
        @Joe
        It is an odd relationship. The media never vetted Obama in 2008 because they were caught up in trying to be "enlightened" that they were afraid to investigate a black guy. Then in 2012 they had to back him to cover up their utter failure in 2008. It goes to every level. How often do you see Afghanistnam in the paper? Where are the pictures of the caskets coming home? The sad truth is that the fourth estate is now a fifth column.
        joynerz
        • 4 Months Ago
        @Joe
        The job of the media is to sell ad space on their boss'es network, however they can.
      nconstinc
      • 4 Months Ago
      Another Obama loan that we whe tax payers will have to eat. Hes the worst president EVER!
        • 4 Months Ago
        @nconstinc
        What minority group has the highest foreclosure rate? He is just living up to his Race, Color, and Creed. Juss Aks um'. Probably busy having grape soda and chips.
      bobby
      • 4 Months Ago
      Another obama failure with our tax money. And again with the state of Delaware. Politicians are bad business people and should not be allowed to gamble our tax dollars on political roulette. Most business decisions regarding politics should be handled by the public vote and limited to those that are employed.
      • 4 Months Ago
      Give credit to the President and Biden. Another green sinkhole. Thanks for creating jobs overseas!
        Grendal
        • 4 Months Ago
        Except that the money was part of a G. W. Bush loan program.
          raal246
          • 4 Months Ago
          @Grendal
          You LIE! The car was sort of announced in 2008. Bush had NOTHING to do with it at all. The one who GAVE over half a billion was Obama! ""In 2010, the Department of Energy awarded Fisker a $529 million green-energy loan, primarily to assist the company in transitioning the Karma, which is assembled in Finland, into the American markets."" This from Wikipedia! Again, your post is a blatant LIE!!!
          Grendal
          • 4 Months Ago
          @Grendal
          @bbenz56 Just keeping the facts straight. Bush's administration created the program and the criteria to get a loan. It was a $25 billion dollar loan program to stimulate and advance American car technology. Cry about it all you want but that is the fact. Obama's administration actually denied the loan until Fisker came back with the proper criteria under Bush's program. Obama's administration also cut off Fisker when they failed to meet certain production deadlines. So nail Obama to the wall for wasteful spending on other things, but stop using Fisker because you would be wrong. ATVM was, and is, a G. W. Bush administration loan program. The forty or fifty commenters that want to point the finger at Obama, like you, should really get your facts straight before you look like a complete idiot. Actually, I thought Obama looked stupid because he didn't point out during the debate that the point Romney made about Fisker was wrong. But his people didn't catch it either so he let Romney nail him on it.
          bbenz56
          • 4 Months Ago
          @Grendal
          Blame Bush! He did not approve the loan that was done by Obama. Just because Bush approved a program to intended to aid startup business it does not mean that he is responsible for failed loans makde by others. Believe me if a Republican pushed for millions of taxpayer dollars to benefit a car maker who only makes cars for the ultra rich the Democrats and the mdia would have a field day with that. Of course when a Democrat does it, it is not a problem. How ironic!
      SVX pearlie
      • 2 Years Ago
      So Fisker is basically sitting dead in the water while this A123 thing plays out, betwen Wanxiang, Johnson, Delaware and the Feds? Holy crap, but that can't be good for business.
        Giza Plateau
        • 4 Months Ago
        @SVX pearlie
        Indeed it can't be good for business but Fisker was foregone before that. Fisker could use CALB batteries if that was the only issue.
        otiswild
        • 4 Months Ago
        @SVX pearlie
        They should probably partner with GM for the batteries, or a newcomer like Envia.
      chuckl4826
      • 2 Years Ago
      American taxpayers..... BOHICA...... Bend Over Here It Comes Again !
      usrt66
      • 4 Months Ago
      Anotrher great job by that person who occupies the White House.
      • 4 Months Ago
      It will be interesting to see what else Romney was right about. Under Obama, our tax dollars at work, lining some one elses pocket, again. I wonder how much of donation this crony made to Obama and the Dems?
      Brian Workman
      • 4 Months Ago
      Don't get your panties in a bunch! Obama will pay off the debt with your Tax Money!!
        joeknowswoodies
        • 4 Months Ago
        @Brian Workman
        Ya and he just gave Biden and a bunch of other fools a pay raise with yo Tax Money! What a FLAKE/FAKE
      rxpharmd
      • 4 Months Ago
      O a marching we will go, a marching we will go, hi ho a merry o, a marching over the cliff we go
      • 4 Months Ago
      Keep in mind that "Obama" made just about $35 Billion on the GM and American General bailouts when the stock the government received was sold this year. More than paid for the losses at Solyndra and Fiskar. Return on the total investment was quite excellent, actually.
        • 4 Months Ago
        Garcia, You are forgetting that Obama invested $51BN just on GM only And AIG was $66.3BN. So according to your Math the combined is about $35BN. Let's see $51BN to GM+ $66.3BN to AIG=$117.3BN. Now if you take $117.3BN-$35BN=$82BN. You call that a good rate of return.. Better look at your Aritheitic Cause thwe tax payers are out $82.3. If you want to Add Solyndra & Fisker make the total Loss to the tax payers, Solyndra $535Million& Fisker $528.7 million . The total lost would be closer to about $85BN. My sources were ABC & CNN Money.
        Oracle
        • 4 Months Ago
        Are you nuts? We are way in the hole for GM and will never get it all back. Obama didn't lose millions. He didn't lose billions. He lost trillions.
      pnut166
      • 4 Months Ago
      Fisker is done. Tesla, however, looks like they might make it. It is unbelievably hard to start an automobile company in today`s market and succeed. Tesla has a good business model and charismatic, Steve Jobs - like leader in Elon Musk. Tesla is getting the price down on their cars, and are taking the bull by the horns in installing charging stations along highways on the seaboards now, with plans to move installation inland in 2013. The stations are unmanned and powered by solar, with the ability to juice up their top model in thirty minutes. To top it off, charging is free ! With a 200 mi. range, you pop in & plug your car up, step next door to the McDs, have lunch, and your car is topped off and ready for another 200 mi. Tesla plans to have their network of charging stations complete by 2014, with one inside every 200 mi radius. They plan to introduce a sub - 40k model in 2014 as well. Musk may possibly revolutionize transportation if he makes it through 2014. Fisker, otoh, is dead in the water.
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