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The 2012 Fisker Karma plug-in hybrid.
(Credit:
Fisker Automotive)



Fisker Automotive has laid off workers as it tries to unlock more money from the $529 million Department of Energy loan it's using to produce its vehicles.



So far, Fisker has received $193 million to build its plug-in hybrid sports car and retool a former GM plant in Wilmington, Del. scheduled to open this year. But Uncle Same has put away its checkbook, putting a crimp in the California-based company's production plans, according to the Associated Press.



Fisker hasn't met existing development and sales milestones, and until it does or comes up with new acceptable terms, the DOE has cut off releasing addition funds. In a money-saving move, the electric car company has laid off 26 workers at the Delaware plant and 40 employees and contractors at its design lab in Anaheim, Calif. until it can come to an agreement with the DOE. In October, the company reported employing 100 workers in Delaware to reopen the old GM manufacturing facility.



The layoffs and slowdown of production and development could also end up effecting the car maker's suppliers. Battery supplier ... [Read more]

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To save cash, Fisker lays off workers during DOE loan negotiations was originally published by Car Tech: An automotive blog from CNET. Read the full story by clicking here.