Transcript for Obama's Green Car Program Under Scrutiny
And we've reported before on the race to create clean energy cars in the past year China has poured nearly 55 billion dollars. And counting into Green energy the US has invested 34 billion to catch up well tonight. -- BC's chief investigative correspondent Brian Ross takes a look at two American car companies. Each receiving half a billion dollars in taxpayer loans with the promise of creating new jobs so what happened. Here's Brian Ross. You can expense said to be the future of the American road. Green and facts. New class cars comes from the California company Tesla all electric. It's roadster cost 108000. Dollars. Schwarzenegger and -- to. Test the four door sedan is half the price still going through -- The Obama administration is pushing electric cars -- Even as some are raising questions about the risk involved. What is that taxpayers billion dollar -- in the case of Tesla some auto analysts questioned the company's underlying business plan. The numbers just -- -- Brian I think -- test against the mark after good in bad shape in fact ABC news found in test this most recent filings with the securities exchange commission. That it says it expects continuing losses for at least the foreseeable future. If you don't make a profit leave it pay the -- But we will make a profit. That's the planet were executed despite what you said to the ministers exchanged. This what we certain securities exchange and a second startup company with a half million dollar taxpayer -- -- -- automotive. It's a very very good looking sexy -- the first -- car off the line the karma went to Leonardo DiCaprio. It is being assembled not in the US but by 500 workers in Finland. Fister says none of the US loan money is spent in Finland and that the Department of Energy knew the car would be assembled overseas. We're not in the business of -- we're in the business of winning so we make the right decision for the business that's -- -- those dormant for months. That decision is not well received by auto workers we -- him and the occupied Detroit. The work should be done here not intended. And now Republicans in congress are questioning why the Department of Energy approved the -- -- in the first place I think -- Department of Energy found out they couldn't do it and America there was time to pull the plug. The Department of Energy says taxpayer money has created design and engineering jobs in the US and will only produce 2500 more jobs. -- -- a lower priced version of the car in Delaware. That at least has the promise but the bottom line is that all these Green programs start -- are risky by their very nature. Nothing is guaranteed Diane there will be winners and there will be those.
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