Fisker Automotive, a California manufacturer of luxury electric vehicles, will receive more than $500 million in federal loans to develop a plug-in hybrid sports car with a sticker price of nearly $90,000 and a new plug-in hybrid vehicle to be built in the United States.
The Energy Department said Tuesday it would lend $528.7 million to Fisker from a $25 billion fund to develop fuel-efficient vehicles, making the Irvine, Calif., startup the fourth automaker to receive loans from the program. The government awarded $8 billion in loans to Ford Motor Co., Nissan Motor Co. and Tesla Motors Inc. in June to develop environmentally friendly cars. [Read]
This is why you pay taxes, right?
You know we are already bankrupt, right?
This is a joke, and we are the punchline.