Getting a multimillion-dollar government loan would likely show a strong vote of confidence in your company’s efforts. That’s exactly what up-and-coming automaker Fisker Automotive got this past week when they received $528.7 million from the U.S. Department of Energy (DOE). While that may sound like a poor allocation of tax dollars in this economic climate, the federal government believes it is money well spent.
When it comes to making an investment in the future of alternative transportation, Fisker is a good bet to place money on. As a developer of plug-in hybrid technology, Fisker has designed a sport sedan that’s as green as just about any other hybrid on the road, but at least twice as fun to drive. Did we mention it’s stunning silhouette?
The 2009 Fisker Karma is only the first of Fisker’s proposed lineup of plug-in hybrids, which also includes a low-cost entry level model as well as a Chevy Volt competitor. This isn’t the first time that DOE has handed out loans for the development of next-gen cars, however. Earlier this year, Tesla Motors, builders of the Tesla Roadster and upcoming Model S, received $465 million. But the recipients of the most government cash are names you’re probably already familiar with. Nissan got $1.6 billion while Ford got a jaw-dropping $5.9 billion. While it may take some time before we see if the research resulting from these loans have paid off, the future of hybrid cars is certainly well-funded.
