It's official -- Uncle Sam is lending Fisker Automotive $528.7 million to help build the super-luxe Karma plug-in hybrid and a more affordable model dubbed Project Nina.
The Department of Energy announced today that it has closed a loan made through the Advanced Technology Vehicle Manufacturing Program. That's the same program that loaned Tesla Motors $465 million to support production of the electric Model S sedan. Ford and Nissan also have received big checks.
“Not only will the Fisker projects contribute to cleaner air and reduced carbon emissions, these plug-in hybrid cars will help put American ingenuity at the forefront of automotive design and production,” Energy Secretary Steven Chu said in a statement. “And they will bring innovative cars to the market place while putting American workers back on the job."
The money will help Fisker Automotive cover the engineering integration costs of the $87,900 Fisker Karma, which will be built in Finland using components sourced from suppliers in the United States. Fisker plans to begin delivering cars in December, though we've yet to see anything beyond the car that lapped Mazda Raceway Laguna Seca last year.
Most of the funds, however, will be used to buy and retool an old General Motors plant in Wilmington, Delaware, to build a mid-sized plug-in sedan codenamed Project Nina. Fisker so far hasn't said much about the car, slated for production in 2012, beyond saying it will cost $39,900 after the federal tax credit for EVs, it will fall BMW 3-Series and 5-Series in terms of size and it will feature “very radical” styling.
"The closing of the DOE loan is a big step forward for Fisker Automotive," said company spokesman Russell Datz. "It allows us to maintain development and production schedules that will put many Americans to work building world-class, advanced technology cars."
UPDATED 7:38 p.m. Eastern with a quote from Fisker spokesman Russell Datz.
Photo of Henrik Fisker with the Karma at the 2009 Los Angeles Auto Show: Jim Merithew / Wired.com
