NEWS FROM THE U.S. DEPARTMENT OF ENERGY


Steven Chu, physical scientist, winner of the 1997 Nobel Prize in Physics.
Photography by Bart Nagel

US Energy Secretary Chu Announces $528 Million Loan for Advanced Vehicle Technology for Fisker Automotive

Energy Secretary Steven Chu today announced a $528.7 million conditional loan for Danish Fisker Automotive for the development of two lines of plug-in hybrids that will save hundreds of millions gallons of gasoline and offset millions of tons of greenhouse gas emissions by 2016. The project will result in approximately 5,000 jobs created or saved for domestic parts suppliers and thousands more to manufacture a plug-in hybrid in the U.S.

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