After Tesla Becomes A Success, Fox Forgets Its Federal LoanApril 26, 2013 2:26 PM EDT ››› MAX GREENBERG
In recent weeks, Fox News has admitted that electric carmaker Tesla Motors is a "success story" -- but now the network suddenly has amnesia about the federal assistance that helped it succeed.
On Friday, Fox News anchor Jon Scott hosted Wall Street Journal automotive industry reporter Joseph White to discuss Fisker, an electric carmaker beset by financial troubles after receiving support from the Department of Energy's Advanced Technology Vehicles Manufacturing program. Scott suggested Fisker is representative of the DOE's loan guarantee program, adding: "Meantime, there's another company, Tesla, smaller company, did not get a government loan as far as I'm aware ... Tesla seems to be making a go of it so far."
White quickly corrected Scott, pointing out that Tesla actually received the same type of government loan guarantee that Fisker did. Indeed, Fox News previously used government assistance for Tesla as an example of supposedly "Failed Green Energy Policies," a characterization then-presidential nominee Mitt Romney later echoed.
However, recent events have forced even Fox News to admit that Tesla is a "success story." Tesla's Model S electric sedan was named car of the year by both Automobile and Motor Trend and is en route to exceeding corporate sales goals. The company has also announced that it turned a profit in the first quarter of 2013 and plans on paying back its DOE loan five years early.
UPDATE (4/26/13): When covering a negative review of Tesla's car, however, Jon Scott did remember that Tesla was government-funded, stating in February 2013, "we are all sort of co-owners of Tesla -- that company got hundreds of millions of taxpayer dollars as part of the president's, you know, green energy thing":