The Department of Energy has granted Fisker Automotive a $528 million conditional loan for a project to develop fuel-efficient plug-in hybrid electric cars, Fisker said Sept. 22.
Project NINA will entail the design, engineering and assembly of Fisker’s next-generation hybrid vehicle, which will cost around $39,900 after tax credits. Project NINA, reminiscent of Christopher Columbus’ exploration and discovery, symbolizes the automobile industry’s transition from old world to new.
A small portion of the funding will go toward finalizing the development of the Fisker Karma, the world's first luxury plug-in hybrid that will serve as a model for less expensive models. Fisker’s mission is to be an environmental alternative to current performance luxury cars by being eco-conscious while delivering superior style and luxury.
Fisker, a green car company located in Irvine, Calif., expects to create or save at least 5,000 jobs among auto suppliers and thousands more to manufacture a plug-in hybrid in the U.S.
According to Fisker, statistics show that the majority of pollution from cars is attributable to Americans’ daily commute to and from work or dropping the kids off at school.
“Currently, more than 60% of Americans and Europeans are driving less than 50 miles (80km) on their daily commute. If this 60% of commuters would drive a plug-in hybrid like the Fisker Karma, we could see the fastest possible reduction both in oil consumption and emissions - all without sacrificing their daily driving habits. Additionally, plug-in hybrids have the potential to augment the planning of cleaner electrical power plants, ultimately producing a dramatic effect on our society and future generations,” Fisker says.
