The U.S. government is intent on weaning us off gas-guzzling autos. It has already loaned Tesla Motors $465 million to get its Model S into showrooms, it took thousands of gas-slurping cars off our roadways and replaced them with more fuel efficient vehicles with its $3-billion Cash-for-Clunkers program, and, yesterday, announced that it would be loaning Fisker Automotive $528 million to create a new low-cost hybrid and finish up work on its $90,000 Karma.
Besides its Karma sedan, the low-cost hybrid Fisker wants to bring to the masses is a $39,900 electric-hybrid called the Nina—named after Christopher Columbus’ ship. It hopes to have the car in showrooms by 2012 and plans to sell 100,000 units annually. Besides helping us win the war on foreign oil, the loan money is expected to create or save at least 5,000 jobs in the automotive supply industry.
[via BusinessWeek and MotorTrend]

Provided by duPont REGISTRY
bef95d2e-3fc4-4f64-ad44-376ed6e84566|2|5.0