Ford Motor Company

Over-Stimulus, EV Indifference a Lethal Mix for Battery Companies

Submitted by Paul Chesser on Sun, 04/22/2012 - 18:05

Volt recharging photoThe Obama Administration has over-stimulated the electric vehicle battery market, as companies inspired by the flow of federal stimulus support don’t have enough customers for their products.

The government promise of a coming electric car (and truck) revolution, thanks to moves such as President George W. Bush’s signature to approve a $7,500-per-electric-vehicle tax credit and Congress’s passage of the Recovery Act, instigated a buildup of capacity and inventory for batteries. Now putrid EV sales – including the newly introduced Ford Focus electric – have put their battery makers in peril, according to the Detroit Free Press.

10 Reasons Why Fisker May Be Worse Than Solyndra

Submitted by Paul Chesser on Thu, 03/15/2012 - 09:25

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This story has been updated below.

Automotive and green technology advocacy Web sites are abuzz with a story about a former employee of Fisker Automotive who claims the company released its $102,000-plus Karma electric sport sedan prematurely, in order to meet targets set forth by the Department of Energy so Fisker could access funds from a $529 million loan award.

Lawyers Who Backed Obama Advised on Failed Loan Programs

Submitted by Paul Chesser on Fri, 03/09/2012 - 08:13

Obama InvescoLast week NLPC reported that an international law firm, whose employees provided significant campaign support for President Obama, was paid $1.8 million from the stimulus to review and conduct “due diligence” for the Department of Energy’s suspended loan to Fisker Automotive, an electric vehicle start-up company. Fisker sent 65 workers to the unemployment lines.

Debevoise and Plimpton, which employs top Obama bundler and fundraiser David Rivkin, wasn’t the only largely Democratic law firm to reap such rewards. At least four other major law practices also analyzed DOE’s loan programs and its grantees – three of which gave large sums of money to the campaigns of President Obama and fellow Democrats.

Obama-Supporting Law Firm Advised on Failed Fisker Loan

Submitted by Paul Chesser on Tue, 02/28/2012 - 09:59

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An international law firm, which gave substantial political donations to President Obama and fellow Democrats over the last three campaign cycles, received its own significant stimulus award to advise on a controversial Department of Energy loan transaction with a struggling electric vehicle manufacturer.

Taxpayer Cash for Ener1 Helped a Thrice-Failed Foreign EV Company

Submitted by Paul Chesser on Wed, 02/01/2012 - 09:49

Think City carLast week yet another treasured Obama administration “Green” energy company – electric vehicle battery manufacturer Ener1 – went bankrupt, after having been granted $118 million in stimulus funds in August 2009. But the gift did more than just sustain it and subsidiary EnerDel; the cash enabled the company to bail out what would be its top customer, a Norwegian electric car company that had already been drained of cash on at least three previous occasions.

Russian Oligarch Tries to Cash In on Obama's Crony Capitalism

Submitted by Paul Chesser on Tue, 01/10/2012 - 09:32

Alexi MordashThe Department of Energy announced on Friday it would not complete a low-interest, $730 million loan to Severstal North America, after it had given the company a conditional commitment in July under its Advanced Technology Vehicles Manufacturing program.

DOE gave no reason for its disapproval of the loan, but it had come under scrutiny about its judgment after the collapse of solar company Solyndra, which was lent $535 million in taxpayer dollars.

DOE Bet on EV Charging Technology Puts Taxpayers in Reverse

Submitted by Paul Chesser on Thu, 10/20/2011 - 09:25

Volt recharging photoOn Friday NLPC reported that the Department of Energy may have made a bad bet on Ecotality, the car-charging company that is heavily dependent on $115 million in government grants to deploy stations for electric vehicles through its EV Project. It turns out that DOE may not only be gambling taxpayer funds on a shaky company, but may also have dumped a bunch of money into a technology with a questionable future.

Green Pressure Groups Try to Split National Association of Manufacturers

Submitted by Paul Chesser on Fri, 06/17/2011 - 11:44

National business associations have been targets of intimidation tactics by environmentalist groups for some time now. For example, Greenpeace trespassed on the grounds of the U.S. Chamber of Commerce, and the eco-gangs attacked their climate change positions to the point where individual members left the organization. Meanwhile “Green” investors have pressured companies to leave the chamber as well.

Investors Flock to ‘Clean’ Tech, So Why the Subsidies?

Submitted by Paul Chesser on Thu, 05/26/2011 - 18:26

According to a report in USA Today, venture capitalists are throwing tons of money into clean and “Green” technology companies. In fact, investor Alan Salzman of VantagePoint Capital Partners says, “It's not alternative: We think of it as mainstream."

How mainstream? The newspaper says:

Several venture capitalists interviewed say it could be hundreds of billions of dollars — if not more — when adding up various slices, such as wind (estimated $60 billion) and solar ($20 billion to $30 billion).

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