Govt awards Fisker Automotive $528.7 million loan

[doug]

WASHINGTON (AP) -- Fisker Automotive, a California manufacturer of luxury electric vehicles, will receive more than $500 million in federal loans to develop a plug-in hybrid sports car with a sticker price of nearly $90,000 and a new plug-in hybrid vehicle to be built in the United States.

Calif. automaker receives $528.7 million govt loan - Yahoo! Finance

Last I knew Board member MEnthusiast was part of getting Fisker Automotive off the ground... I thought this was a pretty cool article, and one that I would think he'd would be proud of! Way to score some cash, Jerry! Best of luck on the project!!!

[Gustav]

Yes, congrats!

Will a Car in Your Garage Wear This Badge in 2006?

[6spd]

Isn't the car built overseas? Sweden made?

found it

The Energy Department said that while the assembly of the Karma will be done overseas, more than 65 percent of the parts will come from U.S. suppliers.

[Gop-Dogg]

"The company has promoted the Karma as an example of green mobility. The vehicle's average fuel economy can exceed 100 miles per gallon (42.5 kilometers per liter) and company officials say the Karma could use as little as one tank of gas per year if driven fewer than 50 miles (80 kilometers) per day and fully charged overnight."

So, if I use this sexy, hot sports sedan solely for puttering to and from the office at posted speeds and I keep it plugged in all night, every night, I'll only use roughly one tank of gas per year? How much will my electric bill be? I shudder to think how fast the needle on my meter will be spinning when the car is charging (6-8 hrs every night).

While dig the concept (and certainly love the looks of this particular car), I still can't take the idea of a plug-in hybrid seriously; especially when you consider that the electricity the car is drawing is more than likely being generated by a coal burning power plant (please don't start with the 'clean coal' nonsense. NG fired GTGs are the only 'clean' fossil fuel based power generators).

[Cosmos]

I still do not understand why the car manufacturers cant just do a diesel fuel cell, running electric motors?? Its cheap, efficient and works well. No plug in play and you get the same outcome.

[andrewsherman]

Tesla just received a similar grant from the government. While I agree with a lot of the comments above and I personally don't expect this to be a mainstream concept, they are addressing these issues. They have charging stations that are powered entirely by solar.

I still can't imagine having to pull over in the middle of a trip for two and a half hours to charge.

[Diny]

Originally Posted by andrewsherman

I still can't imagine having to pull over in the middle of a trip for two and a half hours to charge.

That's because most cars meant for mainstream use have a small gas engine to keep it going. Once battery technology advances enough to the point where you can fully charge them in mere minutes, then that won't be a problem anymore.

They currently have some battery prototypes that fully charge in like 5 minutes or so.

As for how much it would cost, it works out to cents per mile. Also, as technology improves, you'lll be able to power your house with your car or sell power back to the grid.

Then again...you need coal to make electricity, so it's just a longer pipeline and the "fossil fuels" debate is kinda moot. This is why hydrogen is the best solution....once its infrastructure and development don't make it cost like $7 a gallon.

[bernhtp]

Electric cars will likely become a growing automotive niche - for an around-the-town option - but the range issue is obviously a problem for more general use. The use of solar in charging stations is obviously just a gimmick given that solar's economics and practicality are still pretty dismal. Here is an interesting article on energy density with an emphasis on nuclear: Nuclear No-Contest by James P. Hogan

The electric car market will be interesting to watch to see if it ultimately becomes viable in the free market without the enormous government welfare. Unfortunately the record of the government as venture capitalist is worse than poor.

I wish Jerry luck with this. He is truly an automotive enthusiast and has always loved Fisker designs. I hope it becomes financially successful as well as an obvious labor of love for him.

[bernhtp]

Originally Posted by Diny

Then again...you need coal to make electricity, so it's just a longer pipeline and the "fossil fuels" debate is kinda moot. This is why hydrogen is the best solution....once its infrastructure and development don't make it cost like $7 a gallon.

Hydrogen is not really a fuel ; it is an energy storage medium - like a battery - for electrical energy generated/released from other sources. One problem with hydrogen, even in liquified form, is that its energy density is far lower than gasoline. Because of this, gasoline will remain an ideal mobile fuel given its characteristics of high energy density, speed/ease of fueling, and ability to covert into the massive amounts of kinetic energy we cherish here.

However, if we do develop/implement technologies that radically reduce the cost of electricity production (and delivery), then electric cars will certainly get far more potential. When comparing apples with apples, you must realize that much of the cost of gasoline is taxes, ostensibly used for roads and other travel infrastructure. If electric et al becomes popular in cars, they also will need to be similarly taxed to replace that lost from gasoline taxes.

[Cosmos]

Ah....there's the rub....How do we tax this stuff?? How does the Gov, states and others generate revenue from this new tech? Its not an issue now, but at some point it must be addressed, but like everything else, why use foresight??