Electric cars and the Department of Energy: Two giant loans, two different paths
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By Ronnie Greene, Center for Public Integrity
They are two cutting-edge electric car makers, headquartered in California and backed by powerhouses of politics and money. In 2009, each secured half-billion dollar loan commitments from President Obama’s Department of Energy to help transform their clean-energy cars from drawing boards to showrooms.
But this week, the fortunes of Tesla Motors and Fisker Automotive took sharply divergent turns.