From Technology Review– it seems that BOTH Fisker AND A123 Systems are ready to bite it.
Fisker has received a loan guarantee of $528 million from US taxpayers, and has built 1,500 cars of which “several hundred” have been sold. That works out to a cost of $350,000 per car built. And nobody wants to buy them! But that’s all OK, all the money went to Finland, anyway! Hard to understand why an $88,000 car which can only go 50 miles on a charge won’t sell…
A123, by the way, was awarded a taxpayer grant of $250 million.
To be precise, it seems that the total cash drawn by the two companies is less than the maximum amount of the grants. If they both went under today, taxpayers would only lose about $325 million- a bargain!