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    Report: Fisker will borrow $5M from Wanxiang as interim solution

    It may seem like a drop in the bucket compared to the approximately $1 billion in liabilities bankrupt automaker Fisker Automotive has against it, but every bit helps. In this case, it's a smidgeon less than $5 billion. That's how much the maker of the Karma extended-range plug-in is getting ...

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    Official: Biofuel company Sapphire Energy pays of $54.5m government loan early

    In the "lightning strikes twice" department, another California company in the green transportation field has said it paid off its federal government loans ahead of schedule. In this case, San Diego-based Sapphire Energy, which specializes in converting plant algae to crude oil, says it has paid ...

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    Report: US House votes to keep $25b DOE loan program alive

    In the "it may be broke, but we ain't fixing it" department, the US government has decided not to shutter the $25 billion Department of Energy loan program geared to accelerate advanced-powertrain technology development, the Detroit News reports. Given the opportunity to cut a mere $6 million in ...

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    Study: Each Karma 'cost' Fisker $660,000 to produce

    Looks like the $100,000 or so Leo and Bieber plunked down for their Fisker Karma extended-range plug-in vehicles may have been a bargain. The California-based automaker, which appears to be headed for bankruptcy, spent an estimated $660,000 for every one of fewer than 2,500 vehicles it made ...

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    Report: Tesla readying fleet of 80 Model S EVs to use as service loaners

    Fear not, Tesla drivers. When you take your Model S into the shop and need a loaner car, you'll get... another Model S. Tesla chief Elon Musk tells USA Today that the all-electric vehicle maker will set aside about 80 Model S vehicles specifically for customers who need to take their cars in for ...

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    Report: Musk vows to repay Tesla's federal loans in five years, not ten

    Tesla Chief Elon Musk says his company will repay its US Department of Energy loans within five years, Automotive News reports. That's way, way ahead of the 10-year deadline the electric-vehicle maker was originally given to pay back the $465-million loan it got from the feds. Musk says ...

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    Report: Fisker may owe Delaware money if factory plans fall through

    Fisker Automotive has had a tough year, making the news for everything from recalls to presidential politics – Mitt Romney called the company a "loser" during the debates – to a car catching on fire to Justin Bieber chroming his Karma plug-in hybrid (PHEV) and then getting paparazzi ...

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    Report: A123 wants to access $50 million from Wanxiang

    Think of it as a refi going to the highest bidder. Bankrupt lithium-ion battery maker A123 Systems is looking to access a $50 million loan from China-based auto-component maker Wanxiang, which is offering terms at an interest rate that's three percentage points lower than competing bidder ...

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    Official: Tesla will have to pay back DOE loan early, says it's ready to do so

    The 0-60 mile per hour acceleration time of the top-of-the-line Tesla Model S is 4.4 seconds. Now, the federal government is looking for Tesla Motors to similarly pick up the pace. The electric vehicle maker, which received a $465 million credit line from the U.S. Department of Energy, is being ...

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    Official: Better Place gets $50 million loan from European Investment Bank

    Things just got a little better for Better Place. The electric-vehicle battery-swapping company said Tuesday that it received a 40-million euro (U.S. $50 million) loan from the European Investment Bank, marking the company's first credit line after raising all of its existing funding in the form ...

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    Report: Coda shelves plans for Ohio battery plant because of DOE inaction

    In this case, the federal government sneezes, and central Ohio catches a cold. That's the take from the Columbus Dispatch on the decision by electric-vehicle maker Coda Automotive to shelve plans to build a Columbus, OH, battery factory. Coda said about two years ago that it would build the ...

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    Report: GM "loans" Volts in Southern California to spur sales

    Think of it as an extended test drive. General Motors is looking to spur sales of its Chevrolet Volt extended-range plug-in hybrid in California by loaning hundreds of Southern California drivers Volts for as long as a week, Green Car Reports said, citing GM representative Shad Balch. Under ...

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    Official: Carbon Motors' $310 million DOE loan for police-car production rejected

    Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics. "We are ...

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    Report: Analyst predicts Fisker's demise; spokesman says that's premature

    Hiccup or death knell? That's what watchers of California-based automaker Fisker Automotive are trying to figure out after the maker of the Karma extended-range plug-in luxury sedan laid off about 65 workers and contractors in Delaware and California while renegotiating loan details with the ...

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    Report: Fisker lays off employees, renegotiating with DOE on loans *UPDATE

    This isn't good. The Associated Press is reporting that Fisker Automotive has stopped production of the Fisker Karma (*UPDATE: Not true, says Fisker PR: "We are currently producing 20-25 Karmas a day and will continue to do so.") and laid off 26 Delaware employees and 40 contractors in ...

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    Report: Musk: Tesla "will not be applying" for additional DOE loan

    Despite reports to the contrary, Tesla Motors won't ask the U.S. Department of Energy for an additional Advanced Technology Vehicles Manufacturing (ATVM) loan, according to the automaker's chief executive officer. Palo Alto-based Tesla has "significant" capital reserves and more than enough funds ...


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