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A taxpayer-funded electric vehicle battery company, that is considered in great danger due to its dependency on troubled EV company Fisker Automotive, has awarded its top executives big salary increases despite a steep downward trajectory in its stock price. Massachusetts-based A123 Systems -- whichreceived $279.1 million instimulus money from the Department of Energy, and up to $135 million in incentives from the State of Michigan -- boosted the base salaries of two vice presidents and its chief financial officer on February 8. Chief Financial Officer David Prystash was bumped 27 percent to $380,000; VP of Energy Solutions Robert Johnson’s...

This post has been updated below. Among the objections about taxpayer subsidies for the high-profileChevy Volt, manufactured by Government Motors, is that the many grants, loans and tax breaks that lowered the sticker price on the electric hybrid car facilitated its (paltry) sales for the benefit of wealthier individuals who were purchasing it – those with average annual salaries of $170,000 . So can you imagine how happy the affluent customers (like Leonardo DiCaprio) of the heavily subsidized, $102,000 electric Fisker Karma are, to be able to purchase their gimmicky sports sedan at a discount, with a $7,500 tax...

It is mostly unanimous that Clint Eastwood's Super Bowl ad appearance was a stirring and emotional tribute to America and Detroit. The ad was heartfelt, despite the fact that bailed out Italian-owned auto company, Chrysler, paid for it. Unless NBC offered some significant discounts to their ad rates, the ad cost Chrysler about $14 million. Considering the political nature of the ad and the fact that Chrysler vehicles were not touted in the ad, I must ask the cynical question; what's in it for Italian-owned Chrysler? Chrysler CEO, Sergio Marchionne, is a pretty smart guy. I don't think he...

Complete title: Judicial Watch, Human Events Sue Obama Administration for Records Detailing Bailout Loan to California Solar Manufacturer Heavily in Debt$1.2 Billion in Loan Guarantees to SunPower from Department of Energy Followed Successful Lobbying Campaign by Firm Connected to California Congressman’s Son (Washington, DC) – Judicial Watch, the organization that investigates and fights government corruption, announced today that it filed a Freedom of Information Act (FOIA) lawsuit on February 1, 2012, against the U.S. Department of the Interior and the U.S. Department of the Treasury for records regarding a controversial $1.2 billion government loan guarantee from the Obama Department of...

Charles Murray is the W.H. Brady Scholar at the American Enterprise Institute. He received his B.A. in history at Harvard University and his Ph.D. in political science from the Massachusetts Institute of Technology. He has written for numerous newspapers and journals, including the Washington Post, the Wall Street Journal, the New York Times, the Weekly Standard, Commentary, and National Review. His books include Losing Ground: American Social Policy 1950-1980, What It Means to Be a Libertarian, and Real Education: Four Simple Truths for Bringing America’s Schools Back to Reality. His new book, Coming Apart: The State of White America, 1960-2010,...

Actual title is : It’s baaack! The plan to kill talk radio. Group advising White House wants to restore controversial policy An organization that helped to craft President Obama’s environmental policies has recommended the reinstatement of the Fairness Doctrine, purportedly as a method of silencing critics of the theory of global warming. The Presidential Climate Action Project, or PCAP, last year released an extensive list of recommendations for the White House in a 75-page paper entitled, “Building the Obama Administration’s Climate Legacy.” Primary among the PCAP’s recommendations is that the Department of Energy should join the U.S. Department of Housing...

Excellent article adapted from a speech given by Charles Murray regarding the need for the Department of Education: THE CASE FOR the Department of Education could rest on one or more of three legs: its constitutional appropriateness, the existence of serious problems in education that could be solved only at the federal level, and/or its track record since it came into being. Let us consider these in order. (1) Is the Department of Education constitutional? At the time the Constitution was written, education was not even considered a function of local government, let alone the federal government. But the shakiness...

Federal tax credits, loan and grant programs that expired at the end of last year have plugged the financial flow that made so-called “renewables” and electric vehicles viable, so they are now shedding employees and going bankrupt, illustrating that the “clean” industry owed its existence solely to government. Even with the government money, they are failing. Yesterday Indiana-based Ener1, an energy storage company thatreceived $118.5 million from DOE, filed for Chapter 11 bankruptcy. Despite plans to have 1,400 employees in Indiana by 2015, the company had downsized in the state from 380 to approximately 250 since March. Ener1’s stock...

In the wake of Peter Schweizer’s explosive revelation that 80 percent of the Department of Energy’s $20.5 billion in green energy loans went to President Barack Obama’s fundraisers and donors, CBS News is now reporting that the Obama Administration spent billions of taxpayer dollars on 11 more Solyndra-style loans to so-called green energy companies that have since gone bankrupt or are facing serious financial difficulty.

As the U.S. government Venture Capitalist-in-Chief (and President) Barack Obama and his Department of Energy investment guru (and Energy Secretary) Steven Chu pour other peoples’ money into their favorite “clean” technology schemes, private backers appear to be following them off the cliff, “as publicly traded battery makers watched their stocks tank and their businesses stumble,” according to a Dow Jones report late last month. According to a Dow Jones-owned industry tracker called VentureSource, private investors put $372.7 million into 14 battery deals over the first three quarters of 2011. Whether they would have transferred so much cash into the...

The Department of Energy announced on Friday it would not complete a low-interest, $730 million loan toSeverstal North America, after it had given the company a conditional commitment in July under its Advanced Technology Vehicles Manufacturing program. DOE gave no reason for its disapproval of the loan, but it had come under scrutiny about its judgment after the collapse of solar company Solyndra, which was lent $535 million in taxpayer dollars. House Oversight and Government Reform Committee Chairman Darrell Issa called upon Energy Secretary Stephen Chu to revisit the Severstal project – which would modernize its facility in Dearborn,...

WASHINGTON, D.C. – House Oversight and Government Reform Committee Chairman Darrell Issa today responded to the Energy Department's announcement that their $730 million loan to Severstal, a Russian steel company, will not be granted... "While I am pleased that the Department of Energy has reconsidered its decision to fund a $730 million loan to Severstal, it's deeply disconcerting to know that this loan would have gone forward had Congress not raised concerns… Following the waste of taxpayer dollars in the collapse of Solyndra, the Department of Energy needs....

USDA-backed biofuels plant in Soperton, Georgia has lost taxpayers nearly $60 millionWASHINGTON D.C.—Upon reports Tuesday that a USDA-backed biofuels plant in Soperton, Georgia has lost taxpayers nearly $60 million, IER President Tom Pyleissued the following statement:“Apparently U.S. taxpayers have yet to discover life after Solyndra. Today’s announcement that a USDA-backed biofuels plant has been sold for pennies on the dollar—at a loss of nearly $60 million to U.S. taxpayers —further underscores the point that the federal government should not be in the venture capital business.The Bush administration secured the Range Fuels loan, and the Obama administration doubled down on the...

Crony capitalism not only is a pain in the national wallet, but products from crony capitalists pose a physical danger. Fisker Automotive —fronted by Democratic eco-millionaire Al Gore —received a half-billion federal “loan” 2 years ago to make luxury electric cars. Not only was this a sweetheart from the Obama administration, but the deal financed the manufacture of unsafe electric lemons.From the New York Times: Fisker Automotive is recalling all 239 of its 2012 Karma luxury plug-in hybrid cars because of a fire hazard, according to a report filed with the National Highway Traffic Safety Administration. Prices on the 2012...

It figures. The Obama-Pelosi stimulus package failed in its objective to create jobs. It added a trillion dollars to the national debt and didn’t even dent the record unemployment rate. But it did allow the government to snoop into personal information about your child. The New York Post reported: ...The department has taken a giant step toward creating a de facto national student database that will track students by their personal information from preschool through career. Although current federal law prohibits this, the department decided to ignore Congress and, in effect, rewrite the law. Student privacy and parental authority will...

Would it bother you to know that the federal Centers for Disease Control had been shown your daughter’s health records to see how she responded to an STD/teen-pregnancy-prevention program? How about if the federal Department of Education and Department of Labor scrutinized your son’s academic performance to see if he should be “encouraged” to leave high school early to learn a trade? Would you think the government was intruding on your territory as a parent? Under regulations the Obama Department of Education released this month, these scenarios could become reality. The department has taken a giant step toward creating a...

It’s another day, and another round of layoffs by a recipient of millions of dollars under the Obama Administration’s renewable energy initiatives, administered by the mismanaged Department of Energy. This time the Recovery Act largesse – taken out of the hide of taxpayers – went to A123 Systems, Inc. The Massachusetts-based energy storage company was given $249.1 million to help launch two battery-manufacturing plants in Michigan. A123 also received grants and tax credits from the state that could total more than $135 million. In a separate federal grant as a subcontractor for another grantee, A123 received nearly $30 million...

Washington, DC -- December 1, 2011 Judicial Watch, the public interest group that investigates and prosecutes government corruption, announced that it filed today separate lawsuits against the Obama Department of Energy and Office and Management and Budget to obtain records regarding the taxpayer funded government loan provided to the now bankrupt green energy company Solyndra. On September 5, 2011, Judicial Watch submitted Freedom of Information Act (FOIA) requests seeking the following information: Any and all records regarding, concerning or related to the issuance of loan guarantees to Solyndra LLC, Solyndra Inc., Solyndra Fab 2 LLC, and/or 360 Degree Solar...

Industrial Policy: Not only do taxpayers subsidize failing green energy here, they may soon be on the hook for a Department of Energy loan to a firm owned by a Russian billionaire. Just say nyet. When a foreign firm wants to build a facility in the U.S. that hires American workers and pays American taxes, we welcome it. We'd prefer they do it with their own money, not rely on this administration's failed industrial policy to provide them with a huge taxpayer-backed loan — especially when it's owned by a billionaire who doesn't need the help. The administration's latest green...

Anybody remember this? [VIDEO AT SITE] And as the lazy, whining, and confused OWS nimrods march we get this news. At least ten members of President Barack Obama’s 2008 campaign finance committee, plus more than a dozen of his campaign bundlers, benefited from sweetheart loans through the Department of Energy (DOE) that collectively dwarfed those given to Solyndra and Fisker. Around 80% of all the money loaned out by the Department of Energy's 1705 Loan Guarantee Program, over 16 BILLION dollars went to companies run by, or owned by, Obama cronies. Shocked? I think not. After living with Obama...

Energy Secretary Steven Chu said Thursday that no one from the White House ever contacted him to make a political decision on a half-billion-dollar loan to a California solar company that later went bankrupt. Testifying under oath on a widening controversy, Chu said he was unaware of his staff predictions in 2009 that Solyndra was likely to face severe cash-flow problems. He said that market changes which led to a steep decline in the price of solar panels were "totally unexpected." Solyndra went belly-up after getting the $528 million loan from the government, and Chu told the House Energy and...

Energy Secretary Steven Chu said Thursday he doesn't think taxpayers will recover much of their $528 million loan to bankrupt solar firm Solyndra, calling the situation "extremely unfortunate" while continuing to defend his actions to prop up the company before its failure. Chu testified Thursday for the first time before the House committee investigating the Solyndra loan. He insisted that the decision in late 2009 to approve the loan guarantee was his own and "absolutely was made only on the merits." He said it was not influenced by political considerations. But he acknowledged that chances are dim for taxpayers to...

WASHINGTON (AP) — The Obama administration wanted the failing solar energy company Solyndra to delay announcing an early round of employee layoffs until after the 2010 midterm elections, according to newly released emails. An October 2010 email from a Solyndra investment adviser to a colleague said Energy Department officials were pushing "very hard" to delay making the layoffs — an early sign of the company's financial woes — public until Nov. 3, 2010 — the day after the midterm elections. "Oddly they didn't give a reason for that date," the email states. The email was released Wednesday by the House...

President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official. It’s just one more in a string of eye-opening revelations by investigative journalist and Breitbart editor Peter Schweizer in his explosive new book, Throw Them All Out. The details of how BrightSource managed to land its ten-figure taxpayer bailout have yet to emerge fully. However, one clue might be found in the person of Sanjay Wagle. Wagle was one of the principals in Kennedy’s firm who raised money for Barack...

President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official. It’s just one more in a string of eye-opening revelations by investigative journalist and Breitbart editor Peter Schweizer in his explosive new book, Throw Them All Out. The details of how BrightSource managed to land its ten-figure taxpayer bailout have yet to emerge fully. However, one clue might be found in the person of Sanjay Wagle. Wagle was one of the principals in Kennedy’s firm who raised money for Barack...

The Washington Post broke this story earlier this morning. Does anyone want to argue that Solyndra isn’t a scandal now? The Obama administration urged officers of the struggling solar company Solyndra to postpone announcing planned layoffs until after the November 2010 midterm elections, newly released e-mails show. … Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of...

A new book by Hoover Institution fellow Peter Schweizer details the startling extent of the cronyism that has pervaded President Obama’s “green jobs” push. According to Schweizer, 4 out of every 5 renewable energy companies backed by the Energy Department was “run by or primarily owned by Obama financial backers.” Those companies’ “political largesse is probably the best investment they ever made in alternative energy,” Schweizer explains. “It brought them returns many times over.” Such is the inevitable consequence of large government interventions in private markets. Leaving aside the losses associated with transfers of funds from self-sustaining industries to ones...

A new book by Hoover Institution fellow Peter Schweizer details the startling extent of the cronyism that has pervaded President Obama’s “green jobs” push. According to Schweizer, 4 out of every 5 renewable energy companies backed by the Energy Department was “run by or primarily owned by Obama financial backers.” Those companies’ “political largesse is probably the best investment they ever made in alternative energy,” Schweizer explains. “It brought them returns many times over.” Doug Ross spotted the relevant excerpt of Schweizer’s book (h/t Ben Domenech’s Transom): When President-elect Obama came to Washington in late 2008, he was outspoken about...

Yet again, evidence of impropriety surrounds the issuance of federal Department of Energy “green” loan guarantees — in this instance, loans were granted to a foreign company with Democratic Party ties. Over the last two years, DOE Secretary Steven Chu has awarded Spain-based Abengoa — a sprawling, multi-national industrial firm operating in 70 countries — loan guarantees worth a staggering $2.78 billion for solar and ethanol plants. Abengoa is a Madrid-based conglomerate that operates throughout Europe, the Middle East, Latin America, and Asia. It is not starved for cash: according to its 2009 annual report, the firm was valued at...

If you were going to run a pilot project that deploys charging stations in a network to enhance the use of electric vehicles, what kind of establishments would you locate them at? Whose customers might be most interested in that amenity? Certainly Starbucks comes to mind, as might sustainability-crazy Walmart – but how about Cracker Barrel? It’s true, the down-home chain of Old Country Store restaurants was chosen by Ecotality for a practice run in Tennessee as part of The EV Project, which is funded with a $115 million Department of Energy grant to create infrastructure to support EVs...

Solyndra is being investigated by the FBI, but that may just be the tip of the shovel-ready iceberg. The Department of Energy is investigating more than 100 potential instances of criminal abuse of stimulus loan monies, according to the department’s Office of Inspector General. In prepared testimony before the House Oversight and Government Reform Committee Wednesday, Energy Department Inspector General Gregory Friedman said his office has launched more than 100 probes into possible criminal activities related to the 2009 stimulus funds behind the loans.

U.S. Department of Energy official testifies to committee: Energy stimulus program plagued by problems The Department of Energy’s inspector general said Wednesday that the 2009 stimulus program for green energy was so at odds with the realities on the ground that it was akin to “attaching a lawn mower to a fire hydrant.” Inspector General Gregory Friedman, testifying to the House Energy and Commerce Committee’s panel on stimulus oversight, outlined a range of problems, from a flood of $35 billion in stimulus money that overwhelmed the department’s $27 billion annual budget to weatherization programs of such shoddy quality that more...

BEGIN TRANSCRIPT RUSH: Holy cow, look at this, folks. A random act of journalism from The Politico. Is it my imagination or are more of these random acts of journalism by mainstream media firms beginning to happen? It seems like I've been pointing out more random acts of journalism lately the top. Get this. "The Energy Department's inspector general has launched more than 100 criminal investigations related to 2009 [Porkulus] spending. In written testimony prepared for delivery to the House Oversight and Government Reform Committee today, Inspector General Gregory Friedman said the investigations have involved 'various schemes, including the submission...

Thankfully, at least one man in the federal government has been awfully busy on behalf of the American taxpayer: The Energy Department's inspector general has launched more than 100 criminal investigations related to 2009 economic stimulus spending. In written testimony prepared for delivery to the House Oversight and Government Reform Committee today, Inspector General Gregory Friedman said the investigations have involved "various schemes, including the submission of false information, claims for unallowable or unauthorized expenses, and other improper uses of Recovery Act funds."So far, the investigations have led to five criminal prosecutions and brought in "over $2.3 million in monetary...

The Energy Department's inspector general has launched more than 100 criminal investigations related to 2009 economic stimulus spending. In written testimony prepared for delivery to the House Oversight and Government Reform Committee today, Inspector General Gregory Friedman said the investigations have involved "various schemes, including the submission of false information, claims for unallowable or unauthorized expenses, and other improper uses of Recovery Act funds." So far, the investigations have led to five criminal prosecutions and brought in "over $2.3 million in monetary recoveries," Friedman said. "This includes a series of cases involving fictitious claims for travel per diem resulting in...

Earlier today, we highlighted two bankruptcies involving taxpayer-backed loan guarantees for federal social engineering, and involving some bad judgment — or worse. One might wonder how many more of these taxpayer-backed loan recipients might go under in the coming weeks and months. CBS might have given us a sneak peek of the next Solyndra — or at least the next Beacon Power: A company whose subsidiary received $118 million in stimulus grant money from the U.S. Department of Energy to build new electric car batteries has now been removed from trading on NASDAQ. EnerDel got an Energy Department grant in...

POLITICO Pro’s early-morning energy newsletter reports on the closing of another environmental company that was backed by the Energy Department, shortly after the White House announced that it would review the loan process that awarded money to Solyndra: This time, it’s Massachusetts-based energy storage firm Beacon Power Corp., which filed for bankruptcy this weekend despite receiving a federal $43 million loan guarantee in August of last year. In the filing, company CEO William Capp cited the current economic and political climate and DOE’s financing terms as reasons for Beacon’s failure, Bloomberg reports. KEY DIFFERENCE FROM SOLYNDRA: Taxpayers appear positioned to...

(Reuters) - Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program. The bankruptcy comes about two months after Solyndra -- a solar panel maker with a $535 million loan guarantee -- also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create "green energy" jobs. Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel...

Two “clean energy companies” which Barack Obama and Harry Reid have touted as creators of “green energy jobs” have joined Solyndra on the growing list of federal loan recipients facing financial turmoil and default. And a new poll indicates that voters don’t support the idea of agenda-driven federal loans to chosen corporations. Beacon Power Corp., a Massachusetts based energy storage company, filed for bankruptcy on Sunday, just one year after the company received a $43 million loan guarantee from the Department of Energy. And The New York Times reports that Nevada Geothermal Power, another recipient of millions in DOE loan...

Stop me if this sounds familiar. The Department of Energy approves multi-million-dollar loan to green-tech energy firm as part of its job-stimulus bill, only instead of stimulating jobs, the company declares bankruptcy. In this case, it only took a year after the loan was granted for Beacon Power to file for protection from its creditors: Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program.The bankruptcy comes about two months after Solyndra — a solar panel maker with a $535 million...

Rep. Cliff Stearns (R-Fla.) – the GOP’s point man on the Solyndra solar loan guarantee probe – isn’t giving the White House much credit for ordering an independent review of the Energy Department’s green energy loan portfolio. Stearns, who chairs the Oversight and Investigations Subcommittee, used Friday’s White House announcement to take several political shots at the Obama administration. “We remain hopeful the administration's call to review the loan guarantee program will be different from previous internal reviews – like the regulatory reform and line-by-line reviews that the Oversight and Investigations subcommittee revealed as being merely PR campaigns without...

In its push to get electric vehicles on the road, the Obama administration has partnered with a company in dire financial straits that is also under investigation by the Securities and Exchange Commission for insider trading. San Francisco-based green technology company ECOtality received roughly $115 million in two separate Energy Department grants to build 14,000 electric vehicle charging stations in 18 cities. President Obama cited ECOtality in last year’s State of the Union address as a success story of his stimulus law. Ted Karner, president and CEO of ECOtality subsidiary eTec (now called ECOtality North America) watched from the crowd...

The White House is ordering a review of loan guarantees made by the Energy Department after a California solar company that got a half-billion-dollar federal loan went bankrupt. Congressional Republicans have been investigating the bankruptcy of Solyndra Inc. amid revelations that federal officials were warned it had problems but nonetheless continued to support it...

As part of its bankruptcy proceedings, defunct solar company Solyndra will auction off thousands of items from its California production facility on Nov. 2 and 3. But taxpayers won’t see a dime of the proceeds, due to the Energy Department’s decision to subordinate taxpayers to Solyndra’s private financiers in repayment of their investments.As I explained in a Friday column in the Washington Examiner, DOE has developed an unprecedented interpretation of the law to allow Solyndra’s private investors to recoup $75 million of their investment before taxpayers are repaid.Heritage Global Partners, which is conducting the auction, told Scribe that the money...

The Fisker Karma electric car, developed mainly with your tax money so that a bunch of rich VC’s wouldn’t have to risk any real money, has rolled out with an nominal EPA MPGe of 52. Not bad? Unfortunately, it’s a sham. This figure is calculated using the grossly flawed EPA process that substantially underestimates the amount of fossil fuels required to power the electric car, as I showed in great depth in an earlier Forbes.com article. In short, the EPA methodology leaves out, among other things, the conversion efficiency in generating the electricity from fossil fuels in the first place....

On Friday NLPC reported that the Department of Energy may have made a bad bet on Ecotality, the car-charging company that is heavily dependent on $115 million in government grants to deploy stations for electric vehicles through its EV Project. It turns out that DOE may not only be gambling taxpayer funds on a shaky company, but may also have dumped a bunch of money into a technology with a questionable future. Last week seven automotive companies – General Motors, Ford, BMW, Audi, Daimler, Porsche, and Volkswagen – announced they would adopt a single standard , established by the...

It appears as though the Obama administration has been caught red-handed trying to cover up evidence in relation to the “green” loans programs that helped finance Solyndra. CNBC reports that a number of press releases posted by the Department of Energy have been retroactively altered to remove the name a solar company thought by many to be the next “green” failure: The changes occurred in two press releases from the Department of Energy’s loan guarantee program — the same program that has been the center of controversy surrounding the failed solar company Solyndra. Both were changed to remove the name...

Say what you want about Duke Energy and the often-injudicious CEO James Rogers, but at least he is focused on his company’s profitability and the interests of shareholders. Last week he composed an op-ed forThe News & Observer of Raleigh in which he praised Democrat Sen. Kay Hagan and Republican Sen. John McCain for their introduction of the Foreign Earnings Reinvestment Act. The bill would give American companies a “holiday” from the 35 percent U.S. corporate income tax, enabling businesses to – as James Valvo of Americans for Prosperity explained – invest in capital and R&D, hire and train...

Americans need to know why the Energy Department approved a loan guarantee for Solyndra when the company was so clearly troubled. But politicizing this mess to smear the entire renewable energy industry won't help the country or the jobless. This industry is estimated to have doubled its number of American jobs in the past two years. Demonizing it could cripple its job-creating potential. San Jose's SunPower is the latest victim. Fox News has made a series of outrageous claims about it, calling its $1.2 billion federal loan guarantee a scandal "bigger than Solyndra." This is utterly baseless. Fox, without a...

When Tesla’s application was before DOE loan managers in 2009, there were many indications it was not even in need of the loan. Tesla’s private investors included Google co-founders Sergey Brin & Larry Page, former eBay President Jeff Skoll, Hyatt heir Nick Pritzker, and VC firms Draper Fisher Jurvetson, Capricorn Management, and the Bay Area Equity Fund (managed by JPMorgan Chase). In May 2009, Daimler Chrysler took a stake in Tesla for a reported $50 million. Abu Dhabi’s Aabar Investments reportedly bought 40% of Daimler’s investment.