Fox News criticized the U.S. Department of Energy’s decision to hand nearly $1billion in loans to energy-efficient car developers Fisker Automotive and Tesla Motors. The reason? Both California companies currently produce expensive cars that are made in Europe, not America, Fox News noted on its programs. Not so fast, says HybridCars.com: “While the all-electric Tesla Roadster is currently being built in England, and components of the Fisker Karma plug-in hybrid are made in Finland, Fox neglected to fully explain that the loans will be used to establish US manufacturing facilities for more affordable future models.” A deeper analysis on this can be found at non-profit Media Matters. (WSJ VC Blog)
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