http://www.energyefficiencynews.comAfion Media LtdElectric carmaker Fisker receives $528 million government loan<p>Electric carmaker <a
rel="external"
href="http://karma.fiskerautomotive.com/">Fisker Automotive</a> is to receive a $528.7 million from the US <a
href="http://www.energy.gov"
rel="external">Department of Energy</a> (DOE) to develop two lines of plug-on hybrid electric vehicles.</p>
<p>The two part loan from the DOE’s Advanced Technology Vehicles Manufacturing (ATVM) programme will initially provide $169.3 million to support the development of the company’s first vehicle, the four-door Fisker Karma, which is scheduled to launch next summer.</p>
<p>The second stage $359.36 million loan will fund Fisker’s plans to develop another plug-in hybrid that will be assembled in the US and is expected to be released in late 2012.</p>
<p>Although the Fisker Karma will be assembled overseas, 65% of its parts will come from US suppliers. Producing the two vehicles could secure around 5000 US jobs, says the company.</p>
<p>“This investment will create thousands of new American jobs and is another critical step in making sure we are positioned to compete for the clean energy jobs of the future,” said Energy Secretary Steven Chu.</p>
<p>For further information:<br />
<a
rel="external"
href="http://karma.fiskerautomotive.com/">karma.fiskerautomotive.com/</a><br />
<a
href="http://www.energy.gov"
rel="external">www.energy.gov</a></p>
<p>Related stories:<br />
<a
href="http://www.energyefficiencynews.com/i/2411/"
rel="external">US Government loans Ford $5.9 billion to produce fuel efficient cars (18-Sept)</a><br />
<a
href="http://www.energyefficiencynews.com/i/2204/"
rel="external">US Government loans $8 billion to Ford, Nissan and Tesla for advanced vehicles (25-Jun)</a></p>
http://www.energyefficiencynews.com/i/2437/
2009-09-28T00:00:00-00:00US policy, Department of Energy, transport, road, plug-in hybrid, electric vehicle, Fisker Automotive, Karma, Advanced Technology Vehicles Manufacturing programme