The idea of building a hybrid car in Delaware took another step forward with the approval of a loan from the U.S. Department of Energy.
The Fisker automotive company will be getting a $528.7 million loan for the development and production of two lines of plug-in hybrid electric vehicles.
The car will be called the Karma and be built in Delaware on the site of the old General Motors plant. Energy Secretary Steven Chu made the announcement Friday. He praised the automotive company for its ingenuity to produce a car that will reduce carbon emissions.
Vice President Joe Biden applauded Fisker for its promise to hire 2,000 workers. State loans and grants were also given to Fisker based on its ability to hire a percentage of Delawareans in that number.
Fisker expects to begin making cars in 2012 and be at full production of 115,000 cars by 2015. The Fisker car will operate through a Lithium-ion battery. When the battery dies down a fuel efficient gas powered engine will kick in.
Delaware’s two U.S. Senators, Tom Carper and Ted Kaufman along with Congressman Mike Castle praised the energy loan approval. The story of Fisker coming to Delaware has been documented on First, Delaware’s weekly news magazine. When GM announced it was closing the Boxwood Road plant in June 2009 Governor Jack Markell asked the car company not to remove equipment. That was seen as a key point to convincing the Fisker officials the plant could be used to build their cars.