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PHOTO CAPTION: U.S. Energy Secretary Dr. Ernest Moniz

Fisker Winner Must Keep Tech, Production in USA, Says U.S. Energy Secretary

U.S. Energy Secretary Ernest Moniz explains terms of loan cover technology transfer limitations.

Published: 23-Jan-2014

The winner between two Chinese-backed bidders for assets of bankrupt electric-car maker Fisker Automotive Inc. will have to keep manufacturing and research in the U.S., Energy Secretary Ernest Moniz said.

Hybrid Tech Holdings LLC and Wanxiang America Corp. are competing in U.S. bankruptcy court for the remains of Fisker, an Energy Department loan recipient that stopped making its luxury plug-in hybrid cars in 2012.

ā€œIā€™m not going to pick a winner of the auction,ā€ Moniz said today at the Washington Auto Show after giving a speech.

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