And in fact, today the company is actively looking for potential partners because, as company spokesman Roger Ormisher said, Without a partner, it would be difficult for Fisker to survive.
That's not too reassuring for a company that's already drawn down $192 million of the government's loan. Fortunately, the remainder of that loan has been suspended due to delays with the company's first model, the Karma.
Of course, $192 million is peanuts compared to the more than $1 billion in private equity the company has managed to raise. But it's still enough to piss tax payers off (rightly so) and ignite yet another firestorm against electric cars and alternative energy.
Not Ready for Prime Time?
I have to admit the shrapnel from Solyndra and A123 has been tough for a modern energy supporter like me to handle not because these two companies represent the modern energy industry as a whole (because they don't)... and not because taxpayers footed some of the bill for these failures (although to say that doesn't bother me would be a lie)...
No, the reason this kind of stuff is so frustrating is because all those modern energy detractors out there use these examples of failure as a way to attack the transition of our energy economy. A transition, by the way, that is absolutely necessary if we have any intention of maintaining any kind of economic advantage in a rapidly-changing world.
Now, I'll be the first to admit there are few things I like more than the government picking winners and losers in the energy game. It's thanks to this type of interference that many of the superior energy technologies available today struggle to swim upstream against a heavily-subsidized and lopsided energy market.
If someone came up with a portable energy source economically superior to petroleum products he would become the richest man on Earth.
So in the big picture these dog biscuits politicians hand out to their "good boys" are laughable.