Sarah Palin vs. Tesla
Sarah Palin is calling Tesla Motors (TSLA) a loser, and Tesla CEO Elon Musk doesn't like it much.The former governor of Alaska took to Facebook (FB) to vent about electric car maker Fisker Automotive, which is firing 75% of its employees after failing to seal a funding deal.
Fisker got the green light for $529 million in low-interest loans from the U.S. government and drew down $193 million from that pot before officials blocked access to the remaining amount in 2011.
Palin said that Fisker "joins other past losers" like General Motors' (GM) Chevrolet Volt, which gets 40 miles per battery charge, and Tesla, which turns into a "brick" when the battery ! completely discharges and requires a $40,000 repair bill.
Here's a little more from Palin:
This is really just the latest manifestation of the administration's crony capitalism as their green energy buddies benefit from this atrocious waste of taxpayer money. Americans really need to get outraged by these wasteful ventures. As weve seen time and time again, We the People are always stuck subsidizing the left's "losers."
You can read her Facebook post here.
In 2010, Tesla received $465 million in loans from the Department of Energy. The company was supposed to pay the loans back over 10 years, but announced last month that it's repaying the money on an accelerated schedule and will finish payments five years ahead of schedule.
Musk responded to Palin's words with a bit of sarcasm. "Sarah Palin calls Tesla a loser," he wrote on Twitter. "Am deeply wounded." He added that the warranty for Tesla's Model S sedan does cover "bricking."
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