Hybrid car manufacturer Fisker Automotive wins US Department of Energy loan

23 September 2009

The DOE has awarded funds to California-based hybrid-car manufacturer, Fisker Automotive to develop affordable plug-in hybrids made in the US.The DOE believes this will save an estimated 821 million gallons of gasoline along with a CO2 offset of 8 million tonnes from sales of the company’s plug-in hybrids through 2016 based on SAE J2841 Electrical Usage Statistics.

The funds are part of the US Department of Energy’s $25bn Advanced Technologies Vehicle Manufacturing Loan Programme, created by Congress in November 2008 to help promote the development of energy-efficient, advanced-technology vehicles.

A majority of the low-interest funds will go toward Project NINA, which will see the design, engineering and assembly of Fisker’s next-generation plug-in hybrids. The remainder will help finalise development of the Fisker Karma, which will enable the company to develop similar lower cost models.

By 2012 Fisker is expected to launch a family oriented, user-friendly plug-in hybrid featuring cutting edge technology with a significant per centage to be exported, helping to balance the US trade deficit, a statement said.

‘This conditional loan represents a significant step in America’s future,’ said auto designer and CEO, Henrik Fisker. ‘With it Fisker Automotive can rapidly develop affordable clean cars that satisfy our passion for driving and help restore the US as an auto industry leader.’

Fisker Automotive which was founded in 2007 by Henrik Fisker and COO, Bernhard Koehler, is a privately owned, premium American car company with its global headquarters in Irvine, California, USA.

Copyright © 2009 NewNet

Tags: plug-in hybrid

This story was published on Wednesday, September 23rd, 2009 at 10:22 am and is filed under North America, deals. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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