Fisker's Bad Karma

By Isaac Martin

President Obama reminds us that successful green energy startups aren't easy, as illustrated by Solyndra's loan fiasco. What about Fisker Automotive, recipient of $193 millilon in loans* out of a $529-million DOE credit line? The product of this government/industry partnership is the four-door performance Karma sedan, aimed strictly at 1% buyers. So how does that investment look? Unlike Solyndra solar panels, which are installed out of sight, the Karma is a highly visible consumer product competing in a demanding market. Plus buyers are loaded with product knowledge, so a Mercedes-Benz S-Class or Audi A8 owner could drive a Karma and judge whether or not the Karma meets or exceeds his expectations. And unlike with Solyndra, a lack of Karma sales can't be blamed on Chinese government subsidies. So what's the Karma's editorial buzz? Based on two brief reviews, it's less than stellar. Consumer Reports attempted to test one, but due to a technical glitch it was unceremoniously returned to the dealer for repairs. Oops. Fortunately, Autoweek published a two-page Drives.... (Read Full Article)