Companies discuss sharing production of electric cars

Friday, October 5, 2012
 | 
Chris Woodward (OneNewsNow.com)

An energy policy analyst thinks that Fisker Automotive's decision to talk with other car companies about sharing parts and technology is another sign of problems with companies that received government funds.

Fisker CEO Tony Posawatz would not say who the company is talking to, but he does say that Fisker's plug-in hybrid technology is valuable and the company could save money by sharing parts.

Tom Borelli, senior fellow with FreedomWorks, discusses the problem with this proposal.

Borelli, Tom (FreedomWorks)"When you look at the whole electric vehicle, hybrid vehicle arena in the car marketplace, it really is a marketplace failure," he remarks.

"As we've talked about before, the Chevy Volt is far behind in terms of what they wanted to sell to consumers -- and at this point they're so heavily discounting the Volt that GM is losing about $30,000 every Volt they sell."

In the case of Fisker, the Anaheim, California-based company currently sells one model, the $100,000 Fisker Karma plug-in hybrid sports car. The company is developing the Atlantic coupe, but the sticker price on that model is $55,000 and Fisker has yet to say when it will go on sale.

"And following that, I think just last week Consumer Reports had a report, and they said that the car is just full of flaws," he tells OneNewsNow.

Fisker Automotive logoEarlier this year, a Fisker Karma broke down on a Consumer Reports test drive. The company was approved for a $529 million loan in 2009 but only received about one-third of the funds after failing to meet sales goals.

"It's clearly not ready for prime-time," Borelli says. "So it's not surprising they're looking for partners, which is fine in the private market space, but this is where government money should not be mixed up in high-risk ventures like electric vehicles."

Consider Supporting Us?

The staff at Onenewsnow.com strives daily to bring you news from a biblical perspective. If you benefit from this platform and want others to know about it please consider a generous gift today.

MAKE A DONATION

Comments

We moderate all reader comments, usually within 24 hours of posting (longer on weekends). Please limit your comment to 300 words or less and ensure it addresses the article - NOT another reader's comments. Comments that contain a link (URL), an inordinate number of words in ALL CAPS, rude remarks directed at other readers, or profanity/vulgarity will not be approved. More details

SIGN UP FOR OUR DAILY NEWSBRIEF

SUBSCRIBE

VOTE IN OUR POLL

Should vaccination of children be decided by parents/guardians – or by government regulations?

CAST YOUR VOTE

GET PUSH NOTIFICATIONS

SUBSCRIBE

LATEST AP HEADLINES

54 Egyptian police killed in ambush, say officials
Trump jabs back at 'wacky' congresswoman as spat rolls on
Foreigners who joined IS faced almost certain death in Raqqa
Tillerson's Mideast aim is a Saudi-Iraqi axis against Iran
Charges, insults fly after Trump aide assails congresswoman
Trump: Considering Powell and Taylor for Fed's top 2 posts
Suicide bombings in Afghanistan hit mosques, killing 63

LATEST FROM THE WEB

Trump says he intends to allow release of classified files on Kennedy assassination
Gold Star widow releases video of moment Trump called her after husband killed in Afghanistan
Study: Body cameras have little effect on police behavior
Bill O’Reilly accuses Rep Wilson of 'setting up' Trump in call to military widow
How many defectors escape NKorea and why don't we hear more from them?

CARTOON OF THE DAY

Cartoon of the Day

REASON & COMPANY

NEXT STORY
Government promotes research on automated cars

An expert in transportation studies says it was inevitable that the federal government would launch a new research effort regarding automated cars, but he won't go so far as to say that it's warranted.