The U.S. Department of Energy has finalized a deal to provide Fisker Automotive with a $529 (€396) million loan.

The U.S. Department of Energy has finalized a deal to provide Fisker Automotive with a $529 (€396) million loan.

While details are limited, the loan will allow Fisker to retool an old GM plant in Wilmington, Delaware (it previously built the Pontiac Solstice, the Saturn Sky, and the Opel GT). Starting in 2012, the plant will begin producing the $40,000 (€30,000) Nina sedan. In 2016, the second-generation Karma will be produced there (the first generation will be built in Finland by Valmet).

If everything goes according to plan, the plant will employee nearly 2,000 people.

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