Federal funds used to build cars… in Finland?
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:
Related recent Blogs
- President Obama visits Baltimore factory to promote infrastructure investment as a means of revitalizing the middle class • by LDonia • 05/17/2013
- Five reasons you should be concerned about the U.S. military's reliance on foreign manufacturers. • by LDonia • 05/16/2013
- Looking for a manufacturing job? Consider heading to one of these ten metro areas! • by mmcmullan • 05/16/2013
- National Retail Federation dismisses global safety plan for garment factories while Cambodian shoe factory collapses. • by LDonia • 05/16/2013
- OPINION: Aren't we better off buying safe, Made-in-USA products? • by scapozzola • 05/16/2013
- May 16, 2013 Headlines: factory collapses in Cambodia, U.S. retail industry dismisses plan for safer working conditions, & more • by LDonia • 05/16/2013
- U.S. Senate Passes Water Resources Development Act (WRDA) with Buy America Amendment Included. • by scapozzola • 05/15/2013
- And the crystal ball says that U.S. manufacturing is going up/down/sideways... • by scapozzola • 05/15/2013
- Japan's currency moves are heating up a trade problem • by scapozzola • 05/15/2013
- Oregon construction group pushes for Made in America • by scapozzola • 05/14/2013