Fox News and Fox Business previously portrayed electric carmaker Tesla Motors as another “failure” of the Obama administration's green energy investments. But since it is now clear that the company is doing well, both networks have developed amnesia about its federal loan, with Tucker Carlson claiming that “they don't take any government subsidies at all.”
Tesla recently reiterated its plans to repay a loan granted through the Department of Energy's Advanced Technology Vehicle Manufacturing program ahead of schedule. This followed a series of positive developments, including the company's first quarterly profits and a shining review of the Model S sedan by Consumer Reports. Financial services firm Morgan Stanley recently told Raw Story that “Many funds approach an investment opportunity by first asking: does the company do something better or cheaper than anybody else? Tesla is beginning to convince the market it may do both.”
But no matter how Tesla fares in the coming years, it seems likely that Fox News will change its reporting to follow suit. In 2012, Fox News' claim that Tesla was a “failed” company was eventually adopted by the campaign of then-presidential candidate Mitt Romney. Later, Fox News admitted Tesla was a "success", eventually forgetting its federal loan in the process.
Video created by Max Greenberg and John Kerr.