The Register® — Biting the hand that feeds IT

Feeds

Fisker wins big US govt e-car loan

$528m for range-extended hybrid development

Cloud storage: Lower cost and increase uptime

Leccy Tech Fisker Automotive has won a $528m (£324m/€358m) US government loan, designed to help the firm launch an affordable range-extended hybrid car by 2012.

Karma_01

Fisker's Karma (above) will launch next year, but Nina won't be out until 2012

Called Nina, the new small-size Fisker will use the same Q-Drive range extended hybrid drive system as the one found in firm’s Karma and Sunset models – which are both due to launch in 2010.

While the Karma will start at $87,500 (£53,700/€59,300), Nina will be priced at an altogether more affordable $39,000 (£23,900/€26,400) – which includes the US government’s $7500 tax credit.

Nina will cost roughly $10,000 less than Tesla is expected to ask for its Model S - also expected to launch in 2012. Fisker hopes to sell between 75,000 and 100,000 Ninas each year.

Fisker hasn’t released any images of Nina, but has claimed that the vehicle will feature cutting edge technology, radical styling and world-class quality. The car’s name was inspired by the Niña nickname of Christopher Columbus' ship - the Santa Clara.

The US Department of Energy said the loan will “create and save” at least 5000 jobs in the US auto industry, while also indirectly creating thousands more.

One reason for this is that, unlike the Karma - which will undergo final assembly at a factory in Finland, Nina will be a true ‘Made in the USA’ model.

Fisker’s funds will come from the same US government pot that provided Tesla with a $465m (£285/€315m) loan for its Model S e-car. ®

Customer Success Testimonial: Recovery is Everything

Latest Comments

Re: Political Overlords

Stop bitchin' and read this: http://news.bbc.co.uk/1/hi/business/8248434.stm

Click through to slide 6.

It will give you a food for thought about "dipping into tax money".

0
0

Strange Comments

I find it a little hard to swallow the idea that this so-called affordable car will be feature cuting-edge technology and world-class quality yet also be made in the US. Such an idea will mean either Stateside components manufacturers are going to have to achieve the impossible, or there will be a major contribution from Japan. For the good of the company I would hope it is the latter.

Styling-wise it is possible that the company could come up with something brave, beautiful and new; sadly these are three words you could never use to describe the previous offerings of such limited talent so evidently displayed by their CEO. He may like to think he is in the same mould as Sir William Lyons, but in reality he is a long, long way from reaching such elevated heights.

And as said above by Will, £24k cannnot be described as affordable per se. But when you consider the amount of money they are receiving from the State and their desperate need to build a proper business (their press blurb says they intend to export a significant amount of their ambitious volume target of 100,000 units a year so Vic Doolan will be a busy man) as well as the model range then they don't have much choice but go go after as much for each unit as possible. So the suggested windscreen price is pretty unsurprising.

It also means that we will have to wait for someone else to come up with a car that is truly affordable to the masses, so there's still plenty of time for seomeone to corner the market.

0
0

Political Overlords

$39,000.00 is a drop in the bucket to the political Overlords in Washington, D.C.They just dip into the tax money from the rest of us lowlifes. Then give amnesty to an illegal alien to drive them around and providing them access to the their own elitist medical program. Then they can stand in a town hall meeting and brag how they have given jobs and medical care to all those deprived "Americans".

0
0

More from The Register

Boffins find evidence Atlantic Ocean has started closing
'Embryonic subduction zone' that flattened Lisbon headed for Blighty
New material enables 1,000-meter super-skyscrapers
Before you read on, see if you can guess how the new stuff will be used
Google launches broadband balloons, radio astronomy frets
A careless Loon could blind the square kilometre array
 breaking news
You've seen the Large Hadron Collider. Now comes the HUGE Hadron Collider
International Linear Collider ready to rock and roll
Headbangers have a gas, gas, gas in mosh pits
Boffins say heavy metal crowds behave like The Vapours
Hubble spies unlikely planet being born in hostile neighborhood
Hoovering a cloud of sand 7.5 billion miles from a tiny star
 breaking news
Jaguar to open new car-making factory in Blighty (virtually)
Britain still makes stuff, it's just not real any more...
 breaking news
China's second woman 'naut blasts off for coupling in HEAVEN
Wang and pals test the cosmic waters for Chinese space station
Scientists investigate 'dark lightning' threat to aircraft passengers
One stormy flight could give lifetime radiation dose
 breaking news
Chinese 'nauts prep for next coupling in Heaven, clear way for new station
Second woman taikonaut and pals test tech for China's own orbiting platform