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Fisker Got $500 Million In Government Loans For A Nice Luxury Car...You Didn't Even Get A T-Shirt

  • Jalopnik, Friday, October 21, 2011 10:21 AM

You may need to put in your mouth guard for this one if you're prone to gnashing your teeth. It seems Fisker Automotive won both heaps of praise from Vice President Joe Biden and a $529 million loan from the U.S. government for developing the Karma luxury sedan, which would, the company promised, get up to 100 miles a gallon, go 50 miles on a full battery charge and offer "supercar" performance. But while none of those targets was met, Fisker's developing the car anyway with those tax dollars.

The news of Fisker's shortfalls in its mileage targets announced yesterday was the latest in a series of misses since designer Henrik Fisker unveiled his concept in 2008. Fisker is still sticking to the goal of selling 10,000 Karmas this year, even though it can't legally deliver cars in California yet. And company officials pushed another deadline back Tuesday, telling the Wilmington (Del.) News-Journal that the smaller Nina sedan has been delayed from 2012 to mid-2013 at the earliest.

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