Back in January, when we heard that the Department of Energy (DOE) had completed the paperwork for its $1.4 billion loan to Nissan, we accidentally worried a few people by using DOE-speak in the headline: "DC 2010: DOE Secretary Chu announces closing of Nissan's $1.4 billion loan for Leaf electric vehicle." That sounds kind of bad doesn't it? The DOE closed the loan? Oh noes! Of course, it was all good news – closed just means the deal is done – and we learned our lesson this time around (see above).
Yes, the DOE has closed the $528.7 million loan it promised Fisker Automotive last September. The money, as we know, will be used to re-open a General Motors plant in Delaware and help Fisker build the Karma as well as as a "full-size, four-door sports sedan, and a line of family oriented models being developed under the company's Project NINA program." An estimated 2,000 jobs should be created at the plant. Back in September, the DOE said the loan, "will create or save about 5,000 jobs for domestic parts suppliers." The number for plug-in vehicles that the DOE is helping to get made with its ATVM loans "could exceed 300,000 annually," counting the Nissan Leaf and the Tesla Model S.
UPDATE: The press release says that Fisker, "expects to manufacture the Karma and Project NINA lines at a recently shuttered General Motors factory in Wilmington, Delaware." We checked with Fisker spokesman Russel Datz, who told us that the plant will be, "Only Nina for now. It's too soon to say if next-gen Karma will also be built there." So, um, yeah.