Need 1/2 billion dollars for your new company? Fisker Automotive receives Department of Energy Loan

Fisker Automotive, a company started just two years ago in 2007, has received a low cost loan to create “affordable, fuel-efficient plug-in hybrid electric cars”. Where will most of the 500 million+ dollars go? Most of the money is slated for “Project NINA” – Fisker Automotive’s next-generation plug-in hybrids. Fisker, currently taking pre-orders for the Karma – a high end, high dollar plug-in hybrid with a MSRP of $87,900.00 – plans to create a more affordable plug-in starting at about $40,000 after tax credits. Why call the project “Nina”? This project was named after Christopher Columbus’s ship – symbolizing the automobile industry’s transition from “old world to new”.

Fisker Karma
Fisker Karma - The World's First Luxury Plug-in Hybrid Electric Vehicle

See the full press release at

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Auto Upkeep 4th Edition

Michael Gray

Mike has roots in the automotive service industry. He began diagnosing and fixing cars at a young age in his family’s service station. He has worked in automotive parts supply stores, towing companies, and service facilities. After graduating from St. Cloud State University (MN) with a Bachelor’s degree, he implemented and taught a basic car care program at the high school level. During work on his Master’s degree at Illinois State University (IL), he was a curriculum specialist on a National Science Foundation project where he co-authored ten integrated mathematics, science, and technology books designed for team teaching. Mike has also supervised teachers in Career and Technology Education as a school system administrator.

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