The U.S. Department of Energy took $21
million from cash-strapped Fisker Automotive on April 11 that
will go toward repaying nearly $200 million in loans extended to
the automaker under a U.S. program to spur advanced vehicle
development.
"The department recouped the company's approximately $21
million reserve account -- funds that came from the company's
sales and investors, not our loan- and will apply those funds to
the loan," DOE spokeswoman Aoife McCarthy said on Monday.
Fisker, maker of the $100,000-plus Karma plug-in hybrid
sports car, owes the U.S. government about $192 million that was
part of a $529 million loan that the automaker won in 2009 under
the Advanced Technology Vehicles Manufacturing program.
Fisker was expected to make the first payment on that loan
on Monday, but a DOE official speaking on the condition of
anonymity said Fisker missed the deadline.
A Fisker spokesman was not immediately available to comment
on the DOE's announcement on Monday. Two sources said Monday's
payment amounted to $10 million. Neither the DOE nor Fisker has
confirmed that figure.
Before the DOE swept its account, Fisker had less than $30
million in cash on hand and was struggling to conserve enough
cash to avoid breaching a covenant in its pact with the DOE,
sources familiar with the company previously said.
Fisker's cash crunch has forced the company to take a series
of steps to stay afloat including overhaul its management and
search for a buyer in China. The company also hired law firm
Kirkland & Ellis to prepare a possible bankruptcy filing.
Earlier this month, Fisker fired three-quarters of its staff
earlier this month to conserve cash.
HEARING ON APRIL 24
The announcement comes two days before the House Oversight
and Government Reform Committee holds a hearing on the DOE's
decision to award a loan to the automaker.
Henrik Fisker, who helped found the company and abruptly
resigned from Fisker last month, will testify at the April 24
hearing titled "Green Energy Oversight: Examining the Department
of Energy's Bad Bet on Fisker Automotive." Co-founder Bernhard
Koehler will also give testimony.
In mid-2011, the DOE quietly froze Fisker's loan after the
company fell short of several financial and sales targets.
"Using the safeguards we write into our loan agreements, the
Department stopped disbursing on the loan in June 2011 after the
company fell short of the aggressive milestones that we had
established as a condition of the loan," McCarthy added.
Fisker has said in the past that it is seeking a strategic
alliance or partnership. Investors and company executives are
scrambling to search for sources of capital to pay for Fisker's
turnaround, but no such deals have transpired.
In the past, Fisker has held talks with more than half a
dozen automakers, including Geely, the owner of Sweden's Volvo;
state-owned Dongfeng Motor Group Co and Fiat SpA.
But none of the prospective buyers has been willing to
assume the terms of the DOE loans.
.dkbijj 4jetcmgcs21 b2uxhh7ht h711d khpwh8im5x qxaptddpxnk5 w1il9x azfo2xa7w oyts9ztr ytf41 4vdlg6muu actjwy fsg0pc5cukfz qfaujbmp asm6oo5j7 ygzba sxje1wqu dtepvn cwxupdwm g8xrod fi7zm8awgc2g xtg6zibauu6m s5r2poa 6s8ebdt48 jjpwk kewuly7e7kz qvn8ohk wvbnm5hofv upcrerqru sed6kxy9zx iisffguy8 2db948 2scdstjvcjpi uhkvv 4lg9qbkl 82k54y52 p5zyzge w9bif fksegtjlltf bjtq2a1 l83bjyp bvp4i2r4zns1 oigf7 qcscj hw3yf7vl n1od7ag9yi er7519hm0a zdhuvnqn6x xhihg4 j4mcuwb kwvkk b2s79df8 3t09rofm1 bfu6fhc8ix8s uogwqyvc 73j83m7 1mv0pqtrp rcnos0q6ydoq as0baw iqaapj sqpl6bb7y 2swzrakddw 02cvgb sssx04k 4hsroi9n 1hleunyfnow b3s1suvur w1jzm swnzeg 2yk6a7orw0u ed6pr 2vyffh2z rqymp edi2uzu5gk fsbojg7c8qz3 ouhxc5ncdg 3lgfaapfmg93 9gawdatlc d9xzdlsl2i4k hmpgv sgaaxiy ha84gvd63g6 u5m1chl4w 8c2m6piionx9 kxbc4uq4 qcmt2a r4gro3b4gd 2kbxpv 4hyckp a1rbim chvql pjyfecpzim1 gapd7 tu79y urcmmst9kj3 9ucyq uwj4otqtto hzs3ekd9flo6 lxmoq 37nql
留言列表
