Wednesday, September 18, 2013
DOE To Offer Up Fisker's Loan Obligations In Auction
The U.S. Department of Energy is looking to unload the loan obligations of beleagured Fisker Auto--if it can manage to find any willing buyers. The Department of Energy announced today that it was auctioning off the remainder of the $192 million loan it provided to Fisker Automotive through the department's auto loan efforts, after "any realistic possibility for a sale that might have protected our entire investment." The DOE had originally offered up $528M to Fisker for its efforts to start manufacturing its electric vehicles in Delaware, but cut the company off after it failed to start production at its Delaware facility. Fisker has most recently been rumored to be trying to find a buyer to pay $25M for the company, which is no longer making or selling its cars. Fisker had raised over $1.4 billion.