Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

Car Company Gets U. S. Loan, Builds Cars In Finland ^

Posted on 10/20/2011 6:17:38 PM PDT by kcvl

Wirh approval from the Obama adminstration

$529 million

(Excerpt) Read more at ...

TOPICS: News/Current Events
KEYWORDS: algore; finland; fisker; karma; sourcetitlenoturl
Navigation: use the links below to view more comments.
first previous 1-2021-4041-54 last
To: kcvl

Gore-Backed Car Firm Gets Large U.S. Loan


The initial 2012 Fisker Karma will in a future be delivered by a finish of this month and, fittingly, movie star Leonardo di Caprio will get a keys to Karma numero uno. Al Gore as good as Colin Powell will be receiving smoothness of their plug-in Fiskers shortly thereafter, according to Autocar.


Al Gore could become world’s first carbon billionaire

Last year Mr Gore’s venture capital firm loaned a small California firm $75m to develop energy-saving technology.

The company, Silver Spring Networks, produces hardware and software to make the electricity grid more efficient.

The deal appeared to pay off in a big way last week, when the Energy Department announced $3.4 billion in smart grid grants, the New York Times reports. Of the total, more than $560 million went to utilities with which Silver Spring has contracts.

The move means that venture capital company Kleiner Perkins and its partners, including Mr Gore, could recoup their investment many times over in coming years.


Former Secretary Colin Powell Named Strategic Limited Partner at Kleiner Perkins Caufield & Byers

MENLO PARK, Calif. — Kleiner Perkins Caufield & Byers KPCB — an innovator in providing venture and relationship capitalSM services to entrepreneurs — announced former Secretary of State Colin Powell has become a KPCB strategic limited partner.


The Karma, which has been beleaguered by a series of production delays, will cost about $100,000. Actor Leonardo DiCaprio already got his Karma, while former Vice President Al Gore and former Secretary of State Colin Powell, both of whom are affiliated with Kleiner, are expected to take ownership of their Karmas in the coming days.

Fisker Automotive, based in Anaheim, was founded in 2007. Designed by Henrik Fisker, the four-passenger Karma is assembled in Finland, with production scheduled to move to a former GM factory in Wilmington, Del. The cars will be sold through a national network of high-end car dealers. Fisker says it plans initial production volume of 15,000 a year.

“The Karma is a high-end vehicle that could replace a regular car,” said Jeremy Anwyl, CEO of “But the segment of the market that buys cars that cost $100,000 and above is very small.”

Lane said he expects Europe, where gas costs about $9 a gallon, to “smoke the United States” in terms of sales.

Kleiner has a vast cleantech portfolio, with transportation one of six cleantech sectors the firm invests in. Kleiner first invested in Fisker in January 2008, after looking at several business plans from electric-vehicle startups. Lane credited colleague Trae Vasallo with bringing Fisker to the firm’s attention.

“There’s no downside to a Fisker Karma except high price,” said Lane. “But there is a consumer segment that buys high-end cars, that spends $120,000 on a Porsche. We underpriced this car. We brought an electric vehicle to market at a price below its competition in the internal combustion engine.”

41 posted on 10/20/2011 7:05:58 PM PDT by maggief
[ Post Reply | Private Reply | To 8 | View Replies]

To: maggief

That car went to actor Leonardo di Caprio, who also is a Fisker investor

42 posted on 10/20/2011 7:08:33 PM PDT by maggief
[ Post Reply | Private Reply | To 41 | View Replies]

To: yorkie

It looks more and more like this president has taken ‘free reign’ of our tax dollars - with no outrage from our elected officials.”

Why would they? they’re making millions too and laughing at us because we can’t do a thing about it.

43 posted on 10/20/2011 7:13:04 PM PDT by philetus (Keep doing what you always do and you'll eventually get what you deserve)
[ Post Reply | Private Reply | To 32 | View Replies]

To: kcvl

Congress should raise hell about this anti-americanism!

Where the hell is the Republican opposition??
Why don’t they raise hell?

44 posted on 10/20/2011 7:23:44 PM PDT by Finalapproach29er (God humbles and (if need be) destroys the false idols of the peoples. Be patient, folks...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kcvl
Making this in Delaware is a mistake IMHO.

Speaking with my gnomes as of late, the trend is to build new product in new "flexible" plants.

Unless they gut this old GM albatross and the structure is more open than I know, this smells of a boondoggle.

The sad parts?

* I have seen this car in person, looks like a 4 door Ferrari, it is stunning.
* To get the weigh down she needs to be aluminum / composite construction.

If so, the chassis should be made by Lotus and made somewhere other than this plant.

I know I am a bit off topic, you folks are right, we shouldn't be given out money to determine winners and losers. For the record this is different than the loans to Ford and GM to retool via EPA monies to meet the new fuel regs. different pool of money, but they shouldn't have regs that tight, it is stupid.

45 posted on 10/20/2011 7:25:14 PM PDT by taildragger (( Palin / Mulally 2012 ))
[ Post Reply | Private Reply | To 1 | View Replies]

To: kcvl

Yet more government waste subsidizing failed corporations.

46 posted on 10/20/2011 7:56:08 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kcvl

didn’t TESLA get about a million dollars per car they ever made from the Stimulus?? THAT wasn’t enough??

20th Century Motors becoming reality??

47 posted on 10/20/2011 7:58:09 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
[ Post Reply | Private Reply | To 14 | View Replies]

To: GeronL

John Galt has definately left the building

48 posted on 10/20/2011 8:13:54 PM PDT by 09Patriot (your freedom to be you, includes my freedom to be from you.--Wilkow)
[ Post Reply | Private Reply | To 47 | View Replies]

To: philetus

Obama is saving the economy! Of course it’s Finlands economy, but still....

49 posted on 10/20/2011 9:35:18 PM PDT by Rennes Templar (Fast & Furious: Holder gone by the end of the year.)
[ Post Reply | Private Reply | To 43 | View Replies]

To: Army Air Corps

There’s some bad karma coming our way...........

50 posted on 10/21/2011 5:16:54 AM PDT by Red Badger (Obama's number one economics advisor must be a Magic Eight Ball.................)
[ Post Reply | Private Reply | To 31 | View Replies]

So, does this count for US jobs saved or created?

The new measure is "jobs supported". If one of these cars is brought into US then Barry has supported; longshoreman, insurance, international financiers, gas station attendant, car wash guy, oil change guy etc.

51 posted on 10/21/2011 6:57:37 AM PDT by School of Rational Thought (Fun for women ages 21 - 35)
[ Post Reply | Private Reply | To 2 | View Replies]

To: fightinJAG
WHY is there not already a moratorium on new loans until the issues surrounding Solyndra and similar are investigated and addressed?

Because they had to obligate all of the stimulus money prior to 9/30/11.

52 posted on 10/21/2011 7:00:16 AM PDT by tnlibertarian (Things are so bad now, Kenyans are saying Obama was born in the USA.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: tnlibertarian

They can still stop those and new loans from rolling out, as far as I can see.

53 posted on 10/21/2011 8:32:48 AM PDT by fightinJAG (NO REPRESENTATION WITHOUT TAXATION! Everyone should pay taxes, everyone should pay the same rate.)
[ Post Reply | Private Reply | To 52 | View Replies]

To: basil

Rush just now covering this.

54 posted on 10/21/2011 10:15:05 AM PDT by Arrowhead1952 (Dear God, thanks for the rain, but please let it rain more in Texas. Amen.)
[ Post Reply | Private Reply | To 53 | View Replies]

Navigation: use the links below to view more comments.
first previous 1-2021-4041-54 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson