DOE Launches Auction For Fisker Loan

The U.S. Department of Energy (DOE) kicked of an auction Friday for the loan obligations it owns from ill-fated Fisker Automotive, in a bid to regain the remaining $168M in funding it provided to Fisker Automotive. The sale--which had been announced last month--is an attempt to capture some of the millions loaned by the U.S. government to Fisker, which burned through over $1.4 billion in funds before suspending its operations. The U.S. government had requested that prospective bidders offer at least $30M with 10 percent down for the loan obligations. Acquisition of the loan obligations would give the bidder a controlling stake in Fisker.