Fisker Layoffs Only 'Bump in the Road'
Fisker Automotive Inc. said it stopped work and laid off 26 employees at its factory in Delaware. The company has been in the process of re-commissioning the former General Motors plant, where it plans to build plug-in hybrid family sedans.
The moves are the result of negotiations with the Department of Energy over the terms of certain loans. Fisker said it is trying to renegotiate federal loan guarantees totaling $529 million, after it missed certain milestones required under the loans’ original rules.
“This is a bump in the road,” said Fisker spokesman Roger Ormisher, noting that launching a new car company is exceedingly difficult, and missing the occasional deadline or sales target is expected. “Obviously we have had delays and I think we have been very open about that,” he said.
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