Fisker seeks loan at the Department of Energy for low-cost unit

Posted on Saturday, 7 March 2009 , 21:03:46 byEmil

Filed under fiskerloanenergylow-costluxurysedankarmaFiskerSedan

Fisker seeks loan at the Department of Energy for low-cost unit

Fisker Automotive seeks loan from the Department of Energy in U.S. in order to create a low-cost (relatively) plug-in hybrid unit. The firm — that's about to start production of its 88,000 Dollars Karma luxury sedan unit — is claiming it could really have a cheaper car on the market in only over 2 years having sufficient funding.

'If we get the DoE loan we will start the project this year' Henrik Fisker - CEO reported to Reuters on an interview. 'It could be in the market in as little as 26 months from when we start'. The Karma travel eighty miles on just electricity, before its generator with gasoline kicks in. The auto works like Chevrolet Volt. So, a lower price unit from Fisker likely would target a similar cost area like Volt does. 'If we get that, it could be in the market extremely quickly; said Fisker at the Motor Show in Geneva. He didn't disclose the money quantity the firm seeks.

Rival Tesla seeks 350 Dollars million from this program, meanwhile the Detroit Three seeks a mixed 21 billion Dollars of the 25 billion Dollars available. The A123 - battery supplier wants a 2 billion Dollars chunk of that program. In total, 75 firms applied to this loan program; that total now has been reduced to only 26. The 1st funds are therefor expected going in April in distribution.