low-interest loans
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The bad news just keeps on coming from electric-car startup Fisker Automotive. The company said today that it has laid off employees and contractors at both its new Anaheim, California, headquarters and its assembly facility in Wilmington, Delaware. Layoffs by car companies are hardly new, but Fisker was granted $529 million in low-interest loans by the U.S. Department of Energy under its advanced-technology vehicle manufacturing program. Now Fisker is reportedly trying to renegotiate the terms of that loan, having missed critical deadlines in the development of its second vehicle, a mid-size...
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Top Five Green-Car Stories Of 2011: MPGs, Electric Cars, And More
Yep, it's almost the end of the year, which means reams of roundup stories from all your favorite auto websites. Nope, we're not that different: We've got one too. Here's our take on the five most important stories--or perhaps themes--of 2011 in the growing world of green cars. New fuel economy...
John Voelcker -
Aptera Collapse: How & Why It Happened, A Complete Chronology
It's not the best photo, but it means a lot to the 19 people in it. Posed in front of a mirrored glass office building under a colorful logo, they are the final employees of the now-defunct Aptera Motors on the last day of its existence: Friday, December 2. Now we can bring you the inside...
John Voelcker -
Tesla Promotes DOE Loans, Asks For More Money
Electric automaker Tesla Motors posted a blog post on its website earlier this week detailing how the U.S. Department of Energy’s Advanced Technology Vehicles Manufacturing Program had helped it expand and prepare not just one but many electric cars for the market. The blog post was designed...
Nikki Gordon-Bloomfield -
Earthquake To Delay U.S. Assembly of Nissan Leaf Electric Cars?
By far the most ambitious plan to build and assemble electric cars in the U.S. comes not from General Motors or Ford, but from Nissan. Now, it may happen a little later than expected, due to the March 11 earthquake and resulting tsunami that severely damaged large portions of Japan's industrial...
John Voelcker -
DoE's Chu Hopes Chrysler Can Play With Big Kids, Get Loans At Last
Well, looks like Chrysler is getting closer to playing with the big kids at last. The back-from-bankruptcy third U.S. automaker, now effectively controlled by Italy's Fiat, is putting together a financial package that will allow it to pay off all the money invested in it by the Obama Administration...
John Voelcker -
Well, give them credit for resolve, anyway. General Motors said today it was withdrawing its applications to the U.S. Department of Energy for $14.4 billion of low-interest loans under the DoE's advanced technology vehicle manufacturing program. That's the program that so far has granted loans to Ford, Nissan, and Tesla in June 2009, and added more for Fisker the following September. Under the terms of the loans, carmakers must refurbish factories to make cars or parts that are at least 25 percent more fuel-efficient than the ones they replace. Ford will use its $8 billion of loans primarily...
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2011 Nissan Leaf Laurels: Euro Car of the Year, U.S. Cell Plant Underway
Initial deliveries of the 2011 Nissan Leaf battery electric car have been fitful, compared to hundreds of Chevy Volts sold each week. But Nissan's first modern mass-produced battery electric car continues to rack up accomplishments (and the company says it will be at full production by March)...
John Voelcker -
Want To Buy a Toyota Prius Hybrid? This Is The Month To Do It
Auto executives always want you to buy their cars, today. That goes without saying. But it's slightly less common for them to say, in effect, "This is the month to buy, 'cause we're going to be discounting the heck out of 'em." Nonetheless, that was the message from Bob Carter, Toyota's group vice...
John Voelcker -
Struggling Startup Carmaker V-Vehicles Names CEO, Renames Itself
Startups are hard. Automaker startups may be harder. But one of the necessary qualities in startups--tenacity--was on display recently from Next Autoworks. New name, new CEO That's the new name of the former V-Vehicles Inc., which attracted funding from famed Silicon Valley venture firm Kleiner...
John Voelcker -
Who Buys a 2011 Nissan Leaf? Toyota Prius Owners, Of Course
So who are these strange people who might want something as unusual, as perplexing, as downright radical as an electric car? More specifically, an all-electric 2011 Nissan Leaf compact hatchback? Turns out they're the same people who wanted the last most radical type of family car: a...
John Voelcker -
2010 Coda Sedan: Exclusive Video Gives Electric-Car Details
Launching a brand-new car make is a tough task; just ask General Motors (RIP Saturn). But if you're electric-car startup Coda Automotive, you have at least one plus (it's a pure electric car, which is sexy) to offset several potential minuses (who's Coda? it's made in China? I can't buy one outside...
John Voelcker -
Over the last year, the U.S. Department of Energy has granted almost $9 billion of low-interest loans to help automakers retool for more fuel-efficient cars. But until now, General Motors and Chrysler had been shut out while Ford, Nissan, and Tesla were awarded loans last June, joined by Fisker in September. According to a report last week in the Detroit News, that exclusion may be about to end. The DoE is said to be ready to grant loans to each company now that both have emerged from bankruptcy. General Motors has applied for $14.4 billion, including a number of requests originated by...
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Fisker Funds Keep Coming: Delaware Adds To DoE's $529 Million
Last fall, Fisker Automotive was awarded $529 million in low-interest loans by the Department of Energy, and the company has continued to rake in cash since then. In January, for instance, Fisker raised an additional $115 million in private capital. Last week, the DoE and Fisker announced that the...
John Voelcker -
GM To Invest $890 Million In Making Its V-8 Engines Save Gas
Going green on the road may involve smaller engines, electric cars, and clean diesels, but it also requires making all engines far more fuel efficient. To that end, General Motors will announce this morning that it will invest almost one billion dollars in five separate plants to build a new, far...
John Voelcker -
Exclusive: VVC Reveals Its White Plastic V-Car, But No Photos
Just a month after being turned down for low-interest loans by the U.S. Department of Energy, the reclusive V-Vehicle Co. has shown a drivable prototype of its affordable, green V-Car to Louisiana governor Bobby Jindal and members of the press in Baton Rouge. While no photos were allowed, many more...
John Voelcker -
DoE Says No, Denies Secretive Startup V-Vehicle Loan Request
Looks like secretive startup V-Vehicle Co. won't be joining Ford, Nissan, Tesla, and Fisker in getting government guarantees for low-interest loans to invest in advanced vehicle technology. Yesterday the U.S. Department of Energy turned down a $321.1 million loan application by V-Vehicle (VVC)...
John Voelcker -
Wait A Month For Details of 2e Electric Car, Aptera Says
On Friday, Aptera held its first online Town Hall Meeting--a chat among eager followers and some of the Aptera marketing team. Their intent, according to the opening spiel, was to "reduce some of the mystery around the company and open our supporters and depositors up to some of the great things...
Nikki Gordon-Bloomfield -
Dates and cities have been announced for the "Zero Emission Tour" that will introduce the 2012 Nissan Leaf hatchback electric car to potential buyers in the U.S. markets where it will first be sold. The car won't be sold nationwide for more than two years. Instead, it will be offered where Nissan has negotiated agreements with electric utilities. So far, that list includes Seattle, Portland, San Diego, Phoenix / Tucson, and Nashville (home of its U.S. headquarters). Next spring: reservations open Nissan will start taking reservations for the Leaf next spring, and hopes to gather 20,000 U.S...
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Tesla Joins Tax-Incentive Trail for Not-Yet-Sited Model S Factory
It's starting to seem like tit-for-tat around here, as startup electric automakers Tesla and Fisker vie for--and get--federal- and state-funded loans and tax concessions to build future electric cars. The latest salvo, mere days after Fisker announced its purchase of a former GM plant in Delaware...
John Voelcker -
100-MPG Bright Idea Delivery Van: Now With 40 Electric Miles!
Back in April, startup company Bright Automotive unveiled its design for a plug-in hybrid light delivery truck. Now, we've had a chance to drive the prototype, briefly, just as Bright raised its electric range to 40 miles. Our test vehicle was the only Bright IDEA van prototype built thus far by...
John Voelcker -
It's Official: Aptera 2e And Other Three-Wheelers Are Cars Now
By voting 80 to 17 to approve a compromise bill allocating $33.5 billion to fund energy and water projects, the U.S. Senate yesterday also redefined what qualifies as an "automobile". Once President Barack Obama signs the measure, a vehicle with only three wheels can--for the purpose of allocating...
John Voelcker -
More Tesla Turmoil? Executive Turnover Continues
Executive turnover continues at Silicon Valley electric-car startup Tesla Motors, with three executives leaving in nine months and two more hired. The turnover comes both in Vehicle Engineering--the group that must executive and deliver the 2012 Tesla Model S electric luxury sports sedan--and in...
John Voelcker -
Will 20,000 U.S. Buyers Order 2012 Nissan Leafs Within A Year?
The 2012 Nissan Leaf hatchback, the first all-electric car from a major manufacturer to be offered in the U.S. since GM's late lamented EV1 two-seater a decade ago, won't go on sale nationally for more than two years. Nonetheless, Nissan is hoping to accumulate 20,000 U.S. advance orders for the...
John Voelcker