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Keyword: fiskerkarma

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  • As Another Fisker Karma Spontaneously Combusts, "Green" Dreams Go Up In Smoke (Taxpayer Funded Car)

    08/13/2012 9:22:54 AM PDT · by mojito · 4 replies
    ZeroHedge ^ | 8/12/2012 | Tyler Durden
    Several months ago it seemed that not a day could pass without someone, somewhere making fun of GM's biggest post-bankruptcy flaming failure to date: the Chevy Volt (gross and net of channel stuffing). Of course, since it was all in the name of ecological progress and carbon footprint reduction, most media observers let it go as merely one of the peculiar hurdles on the way to an utopian future in which America would no longer rely on crude imports from evil petroleum cartels. The time has come to redirect ridicule to that other $102,00+ MSRP object of electric aspiration, and...
  • Fisker Karma car dies in Consumer Reports testing [Another green machine bites the dust]

    03/08/2012 11:17:18 PM PST · by Zakeet · 34 replies
    Reuters ^ | March 8, 2012 | Ben Klayman
    A $100,000-plus Fisker Automotive luxury sports car died during Consumer Reports speed testing this week for reasons that are still unknown, leaving the struggling electric car startup with another blow to its image. "It is a little disconcerting that you pay that amount of money for a car and it lasts basically 180 miles before going wrong," David Champion, senior director for the magazine's automotive test center, told Reuters, on Thursday. In a statement, Fisker said it was assessing the source of the problem that caused its Karma plug-in hybrid to fail. Fisker dispatched two engineers Wednesday night to...
  • Can Taxpayer-Subsidized Battery Maker A123 Survive?

    03/06/2012 11:41:14 AM PST · by jazusamo · 11 replies
    National Legal & Policy Center ^ | March 6, 2012 | Paul Chesser
    The taxpayer-funded ($279 million) battery supplier that gave big raises and parachutes to its executives shortly after it cut “Green jobs” at its Michigan factories, reported last week it would suffer big losses again for 2011. A123 Systems , whose fortunes were entwined with those of electric vehicle startup manufacturer Fisker Automotive, also announced it would look to China and India in order to survive. A123 also received grants and tax credits from Michigan that could total more than $135 million. The company said it would realize a loss of $257.7 million for last year, compared to the $152.6...
  • After Layoffs, Execs Get Big Raises at Taxpayer-Funded A123 (Makes batteries for Fisker)

    02/16/2012 12:17:52 PM PST · by jazusamo · 14 replies · 1+ views
    National Legal & Policy Center ^ | February 16, 2012 | Paul Chesser
    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...
  • Many Unanswered Questions Surround Fisker Layoffs

    02/09/2012 4:06:34 PM PST · by jazusamo · 4 replies
    National Legal & Policy Center ^ | February 8, 2012 | Paul Chesser
    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...
  • Bad Karma: Our Fisker Karma Plug-in Hybrid Breaks Down

    03/09/2012 7:03:51 AM PST · by RetroSexual · 27 replies
    Consumer Reports, via Yahoo ^ | March 8, 2012 | Consumer Reports Staff
    Our Fisker Karma cost us $107,850. It is super sleek, high-tech—and now it’s broken. We have owned our car for just a few days; it has less than 200 miles on its odometer. While doing speedometer calibration runs on our test track (a procedure we do for every test car before putting it in service by driving the car at a constant 65 mph between two measured points), the dashboard flashed a message and sounded a “bing“ showing a major fault. Our technician got the car off the track and put it into Park to go through the owner’s manual...
  • Karma Comedian: Obama's 'Undriveable' Electric Car

    03/12/2012 6:02:22 PM PDT · by raptor22 · 27 replies
    Investor's Business Daily ^ | March 12, 2012 | IBD editorials
    Industrial Policy: A leading consumer product testing firm takes one of the administration's dream green cars for a spin and had to call a gasoline-powered flatbed truck to tow the lemon away. At least it can go from zero to $529 million in stimulus dollars in nothing flat. When the testers at Consumer Reports took it for a test drive, not only was the $107,850 dream car unable to complete the evaluation, but also it had to be towed away, a visible metaphor for the Obama administration's green energy failures. In a test conducted last Wednesday by Consumer Reports magazine,...
  • Fisker, the car of the future, not quite electrifying at Consumer Reports

    03/09/2012 2:13:55 PM PST · by landsbaum · 14 replies
    Electric cars, which wouldn’t even be an option if taxpayers’ money wasn’t propping them up, don’t ultimately save money or cut down pollution. They aren’t reliable to get from here to there. But they can look nice, like the Fisker Karma. Speaking of which, we have this shall we say not entirely unexpected news, courtesy Reuters:...
  • With All The Volts Counted, Taxpayers Lose Again

    02/15/2012 1:24:23 PM PST · by raptor22 · 24 replies
    Investor's Business Daily ^ | February 15, 2012 | Staff
    Incentives: Doubling down on industrial policy failure, the administration decides to bump up the taxpayer subsidy for Government Motors' touted electric car. Who said its range wasn't enough to drive us to the poor house? Tucked away in the recesses of President Obama's 2013 budget, a budget that Senate Majority Leader Harry Reid says he will not bring to the Senate floor, is a nugget that speaks volumes about the troubles we're in: While delaying the Keystone XL pipeline, the administration plans to increase the subsidy for the Chevy Volt and other "new technology" vehicles to $10,000 per car. "We...