Fisker’s loan has two parts. In the first part, Fisker used $169 million to support the engineers who developed the tools, equipment and manufacturing processes for Fisker’s first vehicle, the Fisker Karma. That work was done Fisker’s U.S. facilities, including its headquarters in Irvine, California which has 700 employees and plans to continue hiring. While the vehicles themselves are being assembled in Fisker’s existing overseas facility, the Department’s funding was only used for the U.S. operations. The money could not be, and was not, spent on overseas operations. The Karma also relies on an extensive network of hundreds of suppliers in more than a dozen U.S. states.

The larger portion of the loan -- $359 million – is supporting the production of Fisker’s Nina vehicles. Fisker is using this funding to bring a shuttered General Motors plant in Delaware back to life and employing more than 2,500 workers. Fisker was attracted to this site in part by the opportunity to rehire some of the trained, dedicated workers who lost their jobs when that plant closed.

Fisker’s production schedule was delayed by regulatory issues that were outside of its control, but the company has successfully raised more than $650 million in private sector investment to support its ongoing operations since closing its DOE loan.

On 2011-10-21 18:43, Kevin Connolly wrote:
John,

The money is supposed to be used to develop the car here and build it in Finland. Money is supposed to be used to open a closed factory here, but is up and running(poorly) in Finland. This sounds-like Solyndra all over again. Instead of solar panels that failed, this car is a failure too. They had better electric cars in 1895.

On 2011-10-21 19:59, Magnus Eisengrim wrote:
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Are you saying that the DOE is misrepresenting the facts?
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