Fisker electric auto another bad bet by Obama

Washington Post:

An electric car company backed by more than a half-billion dollars in Department of Energy loan guarantees has missed early manufacturing goals and has gradually pushed back plans for U.S. production and the creation of thousands of jobs.

This week, Fisker delayed until 2013 the production of the moderately priced family car it plans to build in Delaware. It also learned that its Finnish-produced luxury model, the $96,000 Karma, which is two years late in reaching U.S. markets, failed to meet a promised energy-efficiency standard.

...

 In applying for the federal help, the company promised it would produce and sell at least 11,000 Karmas by the end of last month. Energy Department staff members declined to comment on changes between the conditional agreement and the final loan but said that number of cars is no longer required.

...

 This week, Fisker learned its product couldn’t deliver on its efficiency pledge — the car cannot travel solely on electricity for a 50-mile stretch. That adds to the many hurdles standing between the company and profitability.

...

The 50 mile requirement would barely get me to Walmart and back.  It would not get me to Houston on a one way trip.  In other words, it is an expensive worthless golf cart.  Obama's vision for these vehicles is clearly short sighted.  The loan was a mistake.  For these vehicles to be viable they need a minimum range of 300 miles.  The 50 mile standard is absurd.