Another electric car company backed by DoE loan guarantees in trouble

The entire "green subsidy" program, as we've discovered, is rife with corruption, cronyism, and just plain bad decisions. But beyond all of that, this is what happens when government - rather than the market - picks winners and losers. The Hill: An electric vehicle manufacturer that received a $529 million loan from the Energy Department is recalling 239 vehicles. The Transportation Department's National Highway Traffic Safety Administration (NHTSA) said Thursday that the company, Fisker Automotive, will recall its Karma vehicles made between July 1, 2011, and Nov. 3, 2011, because of a faulty electric battery component that could cause a fire. "Within the high-voltage battery, certain hose clamps may have been positioned incorrectly during assembly. If positioned incorrectly, the batter compartment cover could interfere with the hose clamps, potentially causing a coolant leak from the cooling hose," NHTSA said in its recall notice Thursday. "If coolant enters the battery...(Read Full Post)