American automaker Fisker Automotive was recently approved for a conditional loan of $528 million by the Department of Energy (DOE). While news reports were mostly factual, some ignored or marginalized the truth, or sensationalized irrelevant aspects of the loan and our company. Fisker Automotive would like to present the facts.
Fisker Automotive is an American car company based in Irvine, California. The company’s goals are to help restore the U.S. as a leader in the global auto industry and to eliminate America’s dependence on foreign oil.
These DOE funds will help Fisker Automotive create or save at least 5,000 U.S. jobs, bring to market affordable, American-made plug-in hybrid vehicles and save more than 821 million gallons of gasoline (43.2 million barrels of oil) by 2016.
No DOE funding will be used for overseas operations.
Through private funding, and at no cost to taxpayers, the company has already supported hundreds of American jobs by partnering with major auto suppliers to develop the world’s first production plug-in hybrid car, the Fisker Karma.
This will put the American auto industry ahead of foreign competition. The Karma has been designed and engineered in the U.S. with the majority (65% by cost) of its parts sourced from American suppliers. Fisker Automotive searched for a U.S. plant to assemble the Karma, but none were willing or able to build the 15,000 of these advanced vehicles per year Fisker required.
The low-volume Karma will therefore be assembled in Finland by Valmet Automotive, one of the most respected contract auto builders in the world.
The next generation Karma will be built entirely in the U.S. The Karma is a technology leader necessary to reduce costs for Project NINA, the development of a more affordable, family-oriented plug-in hybrid vehicle to be made in America at a retooled assembly plant in 2012. The resulting vehicle will sell for about $39,900 after federal tax credits.
Engineering on Project NINA has already begun.
Fisker Automotive expects to export half its vehicles, the most of any American car company.
As reported by the DOE, $169.3 million of the loan will be used by Fisker Automotive as the company works with primarily U.S. suppliers to complete engineering work on the Karma. This work will be conducted in Pontiac, Michigan and Irvine, California. The remaining $359.36 million will support Project NINA and its manufacture of 75,000-100,000 plug-in hybrids per year at a retooled U.S. assembly plant, beginning in 2012. The DOE loan is conditional. In order to receive the funds Fisker Automotive must meet very specific milestones. Money is disbursed in small amounts only if the company successfully reaches these milestones.
The funds will be repaid, with interest, to the American taxpayer.
Some have asked questions about the cost of the cars.
Any new technology is expensive. Televisions, cell phones, refrigerators and even cars themselves were once too expensive for most. In time, however, costs come down. The same will happen with Fisker’s plug in hybrid electric vehicles. The DOE loan to Fisker Automotive represents just two percent of the agency’s $25B Advanced Technologies Manufacturing Loan Program (ATVMLP), created by Congress in November 2008 to help promote the development of energy-efficient, advancedtechnology vehicles.
American cars have long been underrepresented in the global marketplace, especially those in premium segments. The U.S. used to be known for building the most exciting and desirable cars in the world. It is time America is again at the forefront, and gives buyers the choice to purchase a desirable environmentally friendly car. When it comes to cars, an environmental strategy is no longer an option, it is a necessity. With the help of the Department of Energy, Fisker Automotive is taking action and making an investment in the future. We are immensely proud of what we are doing, and that we are doing it here in America.
It is unfortunate how false information can be disseminated and it is our intention to correct as much of it as possible.
Henrik Fisker, CEO
[Source: Fisker Automotive Picture: Car and Driver]
Comment on this post in our forums
06:00, 21.01.2012
News info…
I was reading the news and I saw this really interesting information…
07:30, 22.01.2012
[...]the time to read or visit the content or sites we have linked to below the[...]……
[...]here are some links to sites that we link to because we think they are worth visiting[...]……
10:01, 22.01.2012
far east flora…
[...]hendra virus is just one of a number of [...]…
16:07, 22.01.2012
will smith greatest hits zip…
[...]As shortly while you realize that you will be late, you rush regarding the door, take your present wallet, cell [...]…
13:45, 23.01.2012
as the main element. it also wanted…
to create a colored background to accentuate the fruit. to achieve our purpose we chose an apple green and yellow bell pepper.what camera equipment you need? you will need the following:digital camera lens: you can use the lens of your choice….
23:41, 23.01.2012
Superb website…
[...]always a big fan of linking to bloggers that I love but don’t get a lot of link love from[...]……
00:42, 25.01.2012
greenpeace canada tar sands…
[...]I wouldn’t be capable to pursue all of these various goals whilst simultaneously dedicating the vitality [...]…
03:00, 25.01.2012
Blogs ou should be reading…
[...]Here is a Great Blog You Might Find Interesting that we Encourage You[...]……
04:50, 25.01.2012
some audio book versions available for your…
ipod or some college-level discussion groups available online. you can also find out someone who has read the book and find out if it was used in earlier versions of the same class. your next action should be to speed read…
16:14, 25.01.2012
advantage of chocolate brown truffles, lindt sweets,…
caramel bears, reddish flower candy, any premium connect mix… including a adore promotion book. frequently . a fantastic bag for you to the valentine.n. valentine’s gift idea container: alternatively, you are able to deliver any valentines treat pac…
16:29, 25.01.2012
sopac theater…
[...]last October and taken care of her unbeaten record [...]…
03:46, 26.01.2012
greenpeace flagship philippines…
[...]the foundation for a good deal of practices whether or not alone or like [...]…
06:50, 26.01.2012
sopa and pipa bills…
[...]making it 13 victories from 13 races – stated of her decision[...]…
14:43, 26.01.2012
sopapilla cheesecake recipe…
[...]first aspect of the new year. Several people feel that the circumstance [...]…
18:15, 26.01.2012
Visitor recommendations…
[...]one of our visitors recently recommended the following website[...]……
22:49, 26.01.2012
Online Article……
[...]The information mentioned in the article are some of the best available [...]……
04:09, 27.01.2012
sopa passed december…
[...]making it 13 victories from 13 races – explained of her decision[...]…
06:06, 27.01.2012
[...]the time to read or visit the content or sites we have linked to below the[...]……
[...]here are some links to sites that we link to because we think they are worth visiting[...]……
06:45, 27.01.2012
Related……
[...]just beneath, are numerous totally not related sites to ours, however, they are surely worth going over[...]……
11:44, 27.01.2012
will smith and jada pinkett break up…
[...]first part of the new year. Several men and women believe that the case [...]…
14:00, 27.01.2012
is a bit smaller than some other…
tablets and similar in size to other versions of the kindle. if you’re looking to carry your tablet around with you, the smaller size of the kindle fire may be an advantage over other larger tablets like the ipad. for women,…
14:22, 27.01.2012
exercise and smoking a cigarette then dumping…
the evidence.i was surely starting to over think all this butt stuff!but no!! it goes deeper,this is part of the problem, it may even be the start of it all.i’ve been there, i have thrown the butt and said to myself…
15:23, 27.01.2012
sopa passed today…
[...]Lennox spends yet yet another Xmas away from his family [...]…
03:16, 28.01.2012
Visitor recommendations…
[...]one of our visitors recently recommended the following website[...]……
10:32, 28.01.2012
will smith beatboxing…
[...]Tennis League (WHL). With a great deal of great brains at the rear of these products and [...]…
04:00, 29.01.2012
high compared with what a similar car…
might fetch at a regular auction.how can you access the car auctions in japan?so far, so good. but wait a minute: how on earth are you going to be able to get a car from some used car auction way over…
04:25, 29.01.2012
Atlas Shrugged 1957…
“There’s nothing of any importance except how well you do your work.” …
07:34, 29.01.2012
sopa act…
[...]Tennis League (WHL). With a whole lot of wonderful brains behind these goods and [...]…
09:03, 29.01.2012
greenpeace usa board of directors…
[...]Lennox spends yet one more Christmas absent from his family members [...]…
10:40, 29.01.2012
greenpeace internship amsterdam…
[...]well as fencing leader Per Henrik Ling (1777-1839), who examined massage on China[...]…
13:28, 29.01.2012
will smith movies 2009…
[...]last Oct and maintained her unbeaten record [...]…
15:30, 29.01.2012
greenpeace t shirts uk…
[...]Swedish massage was created using techniques utilized by the Swedish physiologist as [...]…
12:43, 30.01.2012
greenpeace canada tar sands…
[...]I wouldn’t be capable to pursue all of these various goals whilst simultaneously dedicating the vitality [...]…
14:45, 30.01.2012
imagine if you were looking for some…
general gift for somebody and had no idea where to start as is usually the case? what tends to happen is that you would usually end up spending a lot of time at some gift store agonizing and worrying that you…
17:11, 30.01.2012
sopa bill status…
[...]gentle Lennox following he heard three varying and entirely various statements from 3 [...]…
18:49, 31.01.2012
Sources…
[...]check below, are some totally unrelated websites to ours, however, they are most trustworthy sources that we use[...]……
02:43, 01.02.2012
Recent Blogroll Additions……
[...]usually posts some very interesting stuff like this. If you’re new to this site[...]……
07:44, 01.02.2012
Read was interesting, stay in touch……
[...]please visit the websites we follow, including this one, as it represents our picks from the web[...]……
11:55, 01.02.2012
News…
I was reading the Yahoo news and I saw this really interesting topic…
13:59, 01.02.2012
greenpeace canada internship…
[...]the publication of my guide and a lot more energetic marketing [...]…
14:48, 01.02.2012
Yep….
I couldn’t have said it better myself……
02:34, 02.02.2012
Yahoo results…
While searching Yahoo I discovered this page in the results and I didn’t think it fit…
02:51, 02.02.2012
Online Article……
[...]The information mentioned in the article are some of the best available [...]……
04:04, 03.02.2012
will smith greatest hits album download…
[...]developed your techniques as effectively as took them inside the [...]…
07:05, 03.02.2012
[...]Sites of interest we have a link to[...]……
[...]usually posts some very interesting stuff like this. If you’re new to this site[...]……
11:07, 03.02.2012
[...]we like to honor many other internet sites on the web, even if they aren’t linked to us, by linking to them. Under are some webpages worth checking out[...]……
[...]Here are some of the sites we recommend for our visitors[...]……
12:18, 03.02.2012
[...]always a big fan of linking to bloggers that I love but don’t get a lot of link love from[...]……
[...]just beneath, are numerous totally not related sites to ours, however, they are surely worth going over[...]……
14:52, 03.02.2012
will smith scientology gay…
[...]to Lennox following Lennox’s authorized crew lodged points of legislation with the Northern Eire courts stating [...]…
17:56, 03.02.2012
greenpeace internship san francisco…
[...]As shortly while you recognize that you will be late, you rush about the door, take your latest wallet, cell [...]…
05:50, 04.02.2012
[...] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[...]……
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose [...]… …