Fisker received the taxpayer-funded millions through the Energy Department’s Advanced Technology Vehicles Manufacturing Loan Program.
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Fisker Automotive — the U.S. electric car company that failed to repay roughly $139 million in federal loans before going bankrupt — is now owned by a Chinese company eager to unleash its cut-rate acquisition on the American auto industry.
The company’s assets were acquired earlier this year by China’s biggest auto parts supplier, Wanxiang Group, for $149.2 million in a U.S. bankruptcy auction.
The company reportedly could start selling Fisker’s ill-fated Karma plug-in car later this year in the United States and Europe.