It is shocking how much they burned through. $900,000 per vehicle sold (at a $70,000 invoice price)!
Thing is, if the government thought like a VC and figured its loans to Solyndra, Fisker and Tesla as strategic investments in an alternative energy future, then would 1 for 3 look as bad? I don't know that it does or doesn't, but certainly the arguments against bailing out Fisker and Solyndra and blowing a lot of tax payer money are the same as for not bailing out Tesla, which I think (and I may prove to be wrong over time) is looking like it could become a significant win for US industry in the long run, and probably well worth bailing out.
When you consider the sheer volume of dollars spent on Detroit's auto industry and the fossil fuel industry these numbers look much better in perspective.
Thing is, if the government thought like a VC and figured its loans to Solyndra, Fisker and Tesla as strategic investments in an alternative energy future, then would 1 for 3 look as bad? I don't know that it does or doesn't, but certainly the arguments against bailing out Fisker and Solyndra and blowing a lot of tax payer money are the same as for not bailing out Tesla, which I think (and I may prove to be wrong over time) is looking like it could become a significant win for US industry in the long run, and probably well worth bailing out.
When you consider the sheer volume of dollars spent on Detroit's auto industry and the fossil fuel industry these numbers look much better in perspective.