Now this is the kind of fighting spirit we like to see. Lu Guanqiu is a Chinese billionaire who has visited the White House alongside Chinese president Hu Jintao in 2011. He's worth an estimated $3.1 billion. And he wants to take on Tesla Motors and other EV makers with his newly purchased company, Fisker Automotive.
Delaware Governor Jack Markell gave business leaders a decidedly negative take on two possible futures for Fisker Automotive: bankruptcy or a negotiated settlement to pay off the $170 million it owes in federal loans at a reduced rate. Neither sounds very good for the governor of the state that brought Fisker into the former General Motors assembly plant in Wilmington in 2009. Markell gave the luxury extended range EV automaker a package of $21.5 million in state grants and loans to set up shop
It used to be that a wild car dealership commercial meant a screaming frontman in a hideous suit making terrible puns and begging for you to help him out of some terrible predicament having to do with surplus inventory. No more – as production values have increased so has the number of commercials to so unusual that you spend the first few seconds trying to believe what you're seeing.
The argument can now be made that Tesla Motors has come up with a sleeker alternative to the Amtrak lines that run along the Eastern Seaboard. The California-based electric vehicle company has installed the first East Coast fast-charging stations, allowing Model S owners to make the 450-mile trek between Boston and Washington DC without worrying about having sufficient juice.
Regardless of what side of the political fence you find yourself on, it's hard to dispute that vice president Joe Biden has a reputation for saying more than he should. That's not always a good thing when you're privy to some of the most important secrets of what is arguably the most powerful nation on earth. Happily for car fans, our veep's "gift" seems to apply to automakers as well.
In Wilmington, Delaware this morning, Governor Jack Markell was joined by Vice President Joe Biden and Henrik Fisker (seen at right) for the official announcement about the purchase of General Motors' closed plant there. Fisker will re-tool the plant to build a new, more affordable plug-in hybrid sedan to slot in below its more luxurious Karma. The goal is to have the model sell for under $40,000 after federal tax credits.