Photo: Fisker
Proving once again that working for an up-start company is dangerous business, even if they manage to get Aston Kutcher to drive their car, Fisker has now had to stop production of the Karma, as the US Government tightness the money tap, according to Bloomberg.
The Department of Energy (DOE) has frozen Fisker’s access to the federal loan for the engineering of the Karma sedan and the future mid-seze sedan called the Nina. Thus the ex-GM Wilmington plant has had to be stop production and fire 26 people.
“It’s been frustrating that Fisker and the Deparment of Energy weren’t able to come to terms on the revisions to the loan in time to avoid this”, said Brian Selander, a spokesman for Delaware governor Jack Markell. “I’d say that the project is on hold while the two sides try to get things sorted out.”
“Our loan guarantees have strict conditions in order to protect taxpayers”, said Energy Department spokesman Damien LaVera. “The department only allows the loan to be disbursed as the company meets certain milestones and demonstrates results.”
“It’s been frustrating that Fisker and the Deparment of Energy weren’t able to come to terms on the revisions to the loan in time to avoid this”, said Brian Selander, a spokesman for Delaware governor Jack Markell. “I’d say that the project is on hold while the two sides try to get things sorted out.”
“Our loan guarantees have strict conditions in order to protect taxpayers”, said Energy Department spokesman Damien LaVera. “The department only allows the loan to be disbursed as the company meets certain milestones and demonstrates results.”
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