Fisker gets $500 million-plus Energy Department loan for Delaware-built hybrid car

Plans to build a plug-in hybrid car in the old GM plant Boj got a big boost on 23 April when the U.S. Department of Energy announced the closure of half a billion dollar loan for Fisker Automotive.

The loan more than $ 500 million will support the Karma, a large sedan that was initially built in Finland and in the agenda of Nina Project, which aims to create a line of smaller vehicles on the ground of box. The Karma is expected to be presented at the Union Park Wilmington as part of a national tour before introduction later this year. Union Park has been selected as a distributor for Fisker.

The Karma will be built, at first in Finland, although production is expected to shift to Delaware.If all goes well, the girl could enter production in late 2012 in the plant box. Fisker, based near Los Angeles, also has funding from venture capital sources.

Employment could rise to 2,000. Naturally, the move was praised by Vice President Joe Biden, who has championed the project. Although plans to build the line in Delaware Nina were announced last fall, the project was not a slam dunk until the loan closing was held. A loan for a hybrid to be built in Louisiana was rejected by the Department of Energy.

“Fisker’s story is a story of ingenuity of an American company, a commitment to innovation by U.S. government and the perseverance of the U.S. auto industry,” said Biden. ”The plant box is opening again, the employment of workers in Delaware, and serves as a guide to everything that we can achieve if we all work together.Thanks a real commitment of this administration, loans from the Department of Energy the creativity of U.S. companies and the tenacity of members and the great state of Delaware – we’re on our way to help the U.S. auto industry regain its position of leadership in the global marketplace.”

Fisker, a company based in southern California, expects to produce the Karma and lines NINA Project recently in a blinds factory General Motors in Wilmington. Fisker anticipates that it will employ 2,000 assembly workers of America. Industry experts expect national parts suppliers and service providers will also increase employment substantially.

“Fisker projects not only contribute to cleaner air and reduce carbon emissions, these plug-in hybrid cars will help put the genius of America in the forefront of automotive design and production,” said Energy Secretary Chu. ”And they will bring to market innovative cars, while U.S. workers put back on the job”

When it reaches full production in 2015, Fisker estimated annual sales to 115,000 vehicles.Fisker designed the combination of sales volume with the expected volume of sales of the Nissan Road and the Tesla Model S, sales of electricity and PHEVs MEVA DOE funded by loans could exceed 300,000 a year.

Initially, Fisker Automotive will use the loan proceeds to engineering qualification

integration costs, as it primarily works with U.S. suppliers to incorporate the components in the design of Karma. The work of integrating engineering will be held in Irvine, Calif., where engineers design and develop computer tools and manufacturing processes. The Karma is scheduled to appear in dealerships in late 2010.

The second stage will involve the purchase and conversion of the former GM plant to manufacture line NINA project, expected to begin leaving the assembly line in late 2012.

Fisker cars are driven by electric motors that are powered by a rechargeable lithium-ion, or, when this is exhausted, by a generator powered by an efficient gas engine. Karma and models NINA Project will have a totally electric, range of tailpipe emissions-free 40 to 50 miles on a full charge, more than most Americans drive every day. The battery can be charged at home overnight. Harness the heat of the gas and electricity, plug-in hybrid Fisker expected to have a range of up to 300 miles.

This is the fourth loan agreement signed by the DOE with a manufacturer of advanced vehicle technology. A completely different approach, based in California, Tesla, operates through a fully electric vehicle. A Tesla sports car is already on the market. .

The program was authorized by Congress under President George W. Bush, though some critics have linked him to program stimulus package President Obama.

Critics say the technology is not proven. However, Fisker CEO Henrik Fisker said in a speech earlier this year in Wilmington extensive testing that has taken place through the adoption of traction and its use in vehicles Fisker.