Bloomberg News

Energy Department Won’t Disclose Fisker Loan Milestones

April 03, 2012

The U.S. Department of Energy won’t disclose milestones Fisker Automotive Inc. had to meet for getting $529 million in U.S. electric-vehicle development loans, it said in responding to a Freedom of Information Act request.

Judicial Watch, a Washington-based advocacy group, sought records including required milestones for the Karma, a $103,000 sports car built in Finland, and a proposed second model, the Nina. The information is trade secrets exempt from disclosure, according to a department letter. Damien LaVera, a department spokesman, verified the agency sent Judicial Watch the letter.

Fisker, based in Anaheim, California, said in February that it was suspending work at a former General Motors Co. plant in Delaware it acquired to produce the Nina after the Energy Department froze its credit for missing milestones.

To contact the reporter on this story: Brian Wingfield in Washington at bwingfield3@bloomberg.net

To contact the editor responsible for this story: Bernard Kohn at bkohn2@bloomberg.net


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