DOE Saw Problems at Fisker As Early As June 2010

Some Dept. of Energy officials raised red flags in mid-2010 about whether hybrid car startup Fisker Automotive Inc. was meeting the goals set by the department, a Congressional panel alleges.

But Republican lawmakers note that the DOE didn't suspend funding to Fisker until a year later. Officials at that time cited worries that the company was missing key milestones for vehicle development and sales.

The House Oversight and Government Reform Committee released internal DOE e-mails and other documents about Fisker before a hearing on Wednesday.

Energy officials say the committee has taken out of context a few questions raised during a long discussion. The department adds that the non-compliance raised in a June 2010 e-mail was remedied by Fisker a few days later.

Fisker received $192 million of a $529 million loan. The DOE seized $21 million from Fisker earlier this month to reduce that liability.

In other testimony:

Fisker COO Bernhard Koehler says the company might be obliged to file for bankruptcy unless it finds new investors. Speculation that the company might seek Chapter 11 protection has been rampant for several weeks.

Founder Henrik Fisker reveals that a DOE official approached him in early 2008 about applying for a loan under a program to foster the development of advanced technology vehicles. But he denies GOP suggestions that Fisker's loan was approved because of administration ties to some of the company's investors.