Fisker Snags $528 Million DOE Loan

Edward Niedermeyer
by Edward Niedermeyer

Retool this! Fisker will use the majority of its Advanced Technologies Vehicle Manufacturing Loan Program (ATVML) loan towards developing its next generation of plug-in, range-extended hybrids, according to the company’s press release [via Yahoo]. Preliminarily dubbed Project NINA, Fisker’s next vehicle range will be “affordable and fuel-efficient” vehicles with a similar drivetrain to its Karma sibling. Unfortunately, Fisker’s idea of affordable is $39,999 “after tax credit.” Sound familiar? Some portion of the AVTML money will go towards wrapping up Karma development, but it’s clear that Project NINA is the new priority. “Inspired by the ship belonging to explorer Christopher Columbus,” Fisker’s release intones, Project NINA “is symbolic of the automobile industry’s transition from old world to new.” Which is oddly appropriate. If it weren’t for state funding, that voyage would never have taken place either. [Thanks for the tips!]

Edward Niedermeyer
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  • Rusted Source Rusted Source on Sep 23, 2009

    That was during a heat wave when people were running the Air-Con Marathon. I suspect typical usage will be an overnight charge when electric utilization is lower. Regardless, it won't ever be an issue where I live. We have so much power, we export it.

  • European European on Sep 23, 2009

    thanks for the link Kyle, but even if your plant is exporting, someone from NA is using up that excess electricity, and in my original post i said "North American powergrid is running close to 100% capacity". and yes i agree, ACs were being used and that helped induce the blackout, but imagine 10% of cars in NA being electric. that makes for 30million more users(cars) on the grid, and all at once (even at night)? i will say no more, make your own conclusions.

  • Rusted Source Rusted Source on Sep 23, 2009

    It's a valid concern. I guess we'll just have to see how it all shakes out. My feeling is that 10% of the market is going to be a long way off.

  • Sutski Sutski on Sep 24, 2009

    Chill dudes, you are in safe hands. "Obama also pledged to make major investments in infrastructure, including not just road and bridge repairs but construction of a new, national "smart grid" that "will save us money, protect our power sources from blackout or attack, and deliver clean, alternative forms of energy to every corner of our nation." :)