Federal funds used to build cars… in Finland?
Posted by Anonymous on 10/21/2011
The federal government granted a loan of over $500 million to Fisker, an electric car company that plans to build their cars in Finland, reports ABC news. Though federal funds helped finance Fisker’s initial engineering and design work in the U.S., they are now being used to pay 500 workers at a Finnish automotive plant.
This is probably not what Vice President Joe Biden had in mind when he praised the Energy Department’s loan two years ago for being a “bright new path to thousands of manufacturing jobs."
Why is Fisker building their cars abroad? According to the company’s founder, "There was no contract manufacturer in the U.S. that could actually produce our vehicle. They don't exist here."
Watch the full ABC news story below:
Add a comment
Related recent Blogs
- Washington State Bridge Collapse Illustrates Perils of Failing Infrastructure. • by scapozzola • 05/24/2013
- Reps. Daniel Lipinski (D-IL) and Michael Grimm (R-NY) form new Congressional Public Transportation Caucus. • by scapozzola • 05/23/2013
- Homeland Security and Gov. Tom Ridge • by scapozzola • 05/23/2013
- CNBC: Is a Chinese construction firm benefiting from its Beijing connection? • by scapozzola • 05/23/2013
- May 23, 2013 Headlines: Gains in the job market, small businesses manufacturing in the U.S.A., and more. • by LRaup • 05/23/2013
- VIDEO: Concerns about America's defense industrial base • by scapozzola • 05/22/2013
- CNBC: China investing in U.S. • by scapozzola • 05/22/2013
- In Indiana, ongoing concerns about subsidized auto parts from China and Japan • by scapozzola • 05/22/2013
- RADIO: AAM's Scott Paul on Leslie Marshall Radio Show, May 20, 2013 • by scapozzola • 05/21/2013
- Shoring up our security means addressing the China challenge • by mmcmullan • 05/20/2013
