Fisker Brings In $529M Loan From DOE

fisker-karma-DOE

Electric Vehicle startup, Fisker Automotive, was just granted a $529 million loan from the Department of Energy.
The loan will go towards manufacuring of their luxury $87,900 sports car, the Karma, as well as a $39,000 plug-in hybrid, which for now is called “Project Ninja.”
$169.3 million will go towards the Karma and $359.36 will go towards Project Ninja.
The company plans to turn profitable in 2011 and will be manufacturing 75,000-100,000 cars per year starting in 2012.