US still out $171 million to electric car maker Fisker, after cu - WBTW-TV: News, Weather, and Sports for Florence, SC

US still out $171 million to electric car maker Fisker, after $21M seizure

Posted: Updated:
A Fisker car... Source: Wikipedia A Fisker car... Source: Wikipedia
  • Trending StoriesTrending StoriesMore>>

  • Dad killed by a plane while walking on the beach; daughter critical

    Dad killed by a plane while walking on the beach; daughter critical

    Monday, July 28 2014 9:41 PM EDT2014-07-29 01:41:09 GMT
    A family beach outing takes a tragic turn in Venice, Florida. A father is killed and his 9-year-old daughter seriously hurt when a plane made an emergency landing at the edge of the water.The father and daughter were walking on the beach when the small plane took a nose dive.The man killed is identified by authorities as 36-year-old Ommy Irizarry. His 9-year-old daughter, Oceana, is reportedly in critical condition at...
    A family beach outing takes a tragic turn in Venice, Florida. A father is killed and his 9-year-old daughter seriously hurt when a plane made an emergency landing at the edge of the water.The father and daughter were walking on the beach when the small plane took a nose dive.The man killed is identified by authorities as 36-year-old Ommy Irizarry. His 9-year-old daughter, Oceana, is reportedly in critical condition at...
  • SC mall evacuated after shooting, one man wounded

    SC mall evacuated after shooting, one man wounded

    Monday, July 28 2014 6:56 PM EDT2014-07-28 22:56:23 GMT
    Shooting scene outside Northwoods Mall in North CharlestonShooting scene outside Northwoods Mall in North Charleston
    NORTH CHARLESTON, SC - According to officials just before 12:30 p.m. officers were dispatched to the parking lot of Northwoods Mall near Books-A-Million in reference to a shooting.When police arrived at the scene they found a black male suffering from a gunshot wound.The victim told authorities that he came to the mall to pick up a friend and there was an altercation between the two resulting in the victim being shot.Witnesses say the suspect fled the area and may have gotten into an awaiting...
    NORTH CHARLESTON, SC - According to officials just before 12:30 p.m. officers were dispatched to the parking lot of Northwoods Mall near Books-A-Million in reference to a shooting.When police arrived at the scene they found a black male suffering from a gunshot wound.The victim told authorities that he came to the mall to pick up a friend and there was an altercation between the two resulting in the victim being shot.Witnesses say the suspect fled the area and may have gotten into an awaiting...
  • NC woman tests positive for Ebola virus

    NC woman tests positive for Ebola virus

    Monday, July 28 2014 2:29 PM EDT2014-07-28 18:29:40 GMT
    David and Nancy Writebol (Photo: SIM.org)David and Nancy Writebol (Photo: SIM.org)
    A second American working in Liberia has tested positive for the Ebola virus, according to the Christian group with whom she works. Nancy Writebol, from Charlotte, was helping a missionary group that is treating Ebola patients in Monrovia, Liberia, when she contracted the deadly virus.Writebol and her husband David are employed by Serving in Mission, which has been working with Samaritan's Purse at the Ebola Consolidated Case Management Center? since the current outbreak began in March. The h...
    A second American working in Liberia has tested positive for the Ebola virus, according to the Christian group with whom she works. Nancy Writebol, from Charlotte, was helping a missionary group that is treating Ebola patients in Monrovia, Liberia, when she contracted the deadly virus.Writebol and her husband David are employed by Serving in Mission, which has been working with Samaritan's Purse at the Ebola Consolidated Case Management Center? since the current outbreak began in March. The h...
WASHINGTON -

The Obama administration says it has seized $21 million from troubled automaker Fisker Automotive Inc., just weeks after the company laid off three-fourths of its workers in Finland amid continuing financial and production problems.

Fisker had received $192 million in federal loans before a series of problems led U.S. officials to freeze the loan in 2011.

In a statement Monday, the Energy Department says it recovered money from the company's approximately $21 million reserve account, which was set up as part of the initial loan commitment in 2009.

The US Government had planned the company would at one point create 2000 jobs and make 100,000 cars a year, but by the end of 2012 Fisker claimed only 1,800 cars had been delivered.

The DOE awarded the Anaheim, Calif.-based company Fisker a $529 million loan as part of an Obama administration program to boost electric cars and other advanced vehicles. Fisker pledged its assets as collateral on that loan.

A DOE official called the financial seizure appropriate.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

101 McDonald Court
Myrtle Beach, SC 29588

Telephone: 843.293.1301
Fax: 843.293.1760
Email: news@wbtw.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company