Got a plan to bring Fisker back to life? You’ve got a couple of weeks to put an offer together. The DOE has announced that it plans to conduct an auction for Fisker’s loan, which has a $168 million unpaid balance, on October 11. The deadline for submitting initial bids is October 7. “After exhausting… Read more »
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DOE to resume making loans for advanced vehicles
The $25 billion Advanced Technology Vehicle Manufacturing (ATVM) loan program, which funded both winners (Tesla, Ford, Nissan) and losers (Fisker) before election-year criticism from the back seat caused it to slam on the brakes, will get back on the road soon, said DOE spokeswoman Aoife McCarthy. The program, which was created in 2008 by President… Read more »
Ford is building the Focus Electric in Europe, but does it care about selling it?
Ford Focus Electrics are now rolling down the assembly line in Saarlouis, Germany, where the company invested 16 million euros to add the electric version to its existing Focus production line. The Focus Electric will go on sale in Europe in August, and the C-MAX Energi plug-in hybrid will join it next year. “Focus Electric… Read more »
Johnson Controls to supply batteries for 120 hybrid work trucks in DOE program
About 120 work trucks, to be used by various utilities and electric companies, will use plug-in hybrid power systems by Odyne Systems, using Johnson Controls’ batteries.
Tesla pays off DOE loan early, taxpayers profit
Delivering a welcome victory for the government’s policy of supporting American manufacturing, Tesla Motors has paid off the loan it received from the Department of Energy nine years ahead of schedule, giving taxpayers a profit of at least $12 million on the original $465 million loan, Reuters reported. “I would like to thank the Department… Read more »
DOE to award $62.5 million to USABC to accelerate development of next-generation EV batteries
The DOE announced that the US Advanced Battery Consortium (USABC), an industry group managed by GM, Ford and Chrysler, will lead an industry-wide effort to accelerate development of next-generation battery technologies for electrified vehicles. The DOE will invest $12.5 million per year for five years, subject to congressional appropriations, which will be matched by an… Read more »
This week at Tesla part one: Company announces plans to raise more capital and pay off DOE loan early
The Palo Alto powerhouse announced offerings of 2,703,027 shares of common stock.
DOE duns Fisker for $21 million
Crippled carmaker Fisker Automotive suffered yet another indignity this month, as the DOE helped itself to $21 million of Fisker’s cash, which will go towards paying down the $192 million that Fisker owes the government.
Volt battery supplier forced to return $842K in DOE funds
The bad news: a colorful scandal has emerged at another of the companies that received DOE funds to build EV-related components. The good news: this time the feds got wise to the hanky-panky in time, and are forcing the company to make amends. In 2009, Korean battery maker LG Chem received a $150-million federal grant,… Read more »
DOE releases EV Everywhere Grand Challenge Blueprint
The report sets priorities, including numerical objectives, in five key technical areas: batteries, drive systems, vehicle lightweighting, climate control and charging infrastructure.