A research company has released a timeline claiming Fisker Automotive could go down as the largest venture capital investment debacle in U.S. history.
The report came from Privco, a New York firm that has been following Fisker and researches privately held companies. It claims Fisker has spent $1.3 billion in private and taxpayer money and has little money remaining. Delaware spent more than $20 million in an effort to help build a Fisker automobile at the former GM Boxwood plant. Privco says U.S. taxpayers could lose $200 million.
The federal loan was suspended after the company did not meet financial goals.
Privco says Fisker spent $600,000 for each car it built.
Further information is available on the home page of Privco’s website.
Research firm: Fisker may go down as top venture capital investment debacle | Delaware Business Daily U13 Social Site – social networking http://www.uone3.com/qmunity/blogs/post/512