Some serious cash is coming to Fisker Automtive to plug-in hybrid to market and develop an “affordable” plug-in.
The Obama administration will loan Fisker Automotive more than half a billion dollars to bring the super-luxe Karma plug-in hybrid to market and develop an “affordable” plug-in that could be on the road as early as 2012. The California startup said most of the $528.7 million low-interest loan will help finance project Nina, a four-door, five-passenger mid-size plug-in hybrid that will build on the technology underpinning the gas-electric Karma. Whereas the Karma (pictured above) will start at $87,900 when it goes on sale next year, the Nina is expected to cost $39,900 after the $7,500 federal tax credit for EVs and plug-in hybrids. “This conditional loan represents a significant step in America’s future,” company CEO Henrik Fisker said in a statement. “With it Fisker Automotive can rapidly develop affordable clean cars that satisfy our passion for driving and help restore the U.S. as an auto industry leader.” – From Wired