Fisker Gets $529 Millon Loan

US hybrid car startup Fisker Automotive has been awarded a 529 million USD loan from the US Department of Energy. The loan is conditional, and will be used by Fisker to develop the two lines of plug-in hybrids currently on the company's drawing board.

Initially, the much-publicised Karma project will receive 169.3 million USD of the loan to help with final pre-manufacture development ahead of the luxury car's scheduled launch next summer. This part of the loan is also earmarked for developing the tools and equipment needed for future production and models.

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