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Fisker's government loan blocked, Project Nina delayed

 Fiskers government loan blocked, Project Nina delayed
2012 Fisker Karma plug-in hybrid - 22.3.2011

Model's future becomes hazy

The Fisker Karma had a long and tumultuous path to production and it looks like the company's entry-level model, dubbed the Project Nina, is in for a similar fate.

According to Bloomberg, the U.S. Department of Energy has blocked the company's access to a $529 (€403.5) million loan due to unmet milestones. This has resulted in the company laying off 26 workers at the Wilmington, Delaware plant which was scheduled to build the Project Nina sedan later this year.

While the delay is unfortunate, Fisker wants to renegotiate the terms of the loan to restore access to the funds. There's no word on when this could occur, but it looks like the Project Nina wouldn't be arriving at dealerships anytime soon.

Note: Fisker Karma pictured

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Comments (6)

 duppy mowt duppy mowt
There making a conscious effort to do something different... really different. Good luck Fisker... press on through your adversity.
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February 8, 2012 8:55 am
 eddie eddie
Fisker should still be praised as they did what a lot of larger companies could not do with much less money. I hope they survive and costs will come down as the rich pay for initial technology so the masses will have it later!
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February 7, 2012 11:01 pm
 axual axual
Deliver a $28,000 dollar electric with 250 mile range EV and 400 mile range EV+Gas Generator ... they I'll consider a loan. That includes GM ... the Volt is a nice piece of engineering ... now get the price down to $30K. Getting tired of handing over billions to companies who build $45,000 to $100,000 EV vehicles.
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February 7, 2012 8:21 pm