Deals
Fisker’s Job Cuts Fuel Political Debate on Green Energy Projects
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Fisker Automotive Inc.’s mass firings after receiving federal loans to build luxury plug-in cars is adding to the political debate over the U.S. government’s funding of clean-energy programs.
Most of the assets of Fisker’s battery supplier that received a $249.1 million federal grant, the former A123 Systems Inc., were acquired last year by a Chinese company. Now Fisker, awarded $529 million in U.S. loans, is firing 75 percent of its workforce after failing to secure a deal with an automotive partner to fund operations.