Fisker Automotive has hit a rough patch (a rock quarry may be a better way to characterize it, actually). The company has seen excitement about the product crumble recently thanks to the recent, incredibly public failure of the $102,000 Fisker Karma while being prepped for testing by Consumer Reports. This was immediately followed-up with the all-but
Elite electric car manufacturer Tesla Motors has revealed in a revised S1 filing with the SEC that it will cooperate with Toyota on the development of Tesla’s Model S sedan. To grease the deal, Tesla will pay Toyota $42 million for the New United Motor Manufacturing Inc.( NUMMI) auto plant in Fremont, California where the vehicles will likely be produced.
The NUMMI facility, which had been the site of a joint venture between Toyota and General Motors, had closed its doors earlier this year as part of GM’s financial liquidation. Indications are that several thousand laid-off auto workers from the area could be rehired as a result of the agreement.
Clean tech companies hoping to capitalize on the 30% Advanced Energy Manufacturing Tax Credit (48C) for re-quipping, expanding, or establishing a manufacturing facility must submit a preliminary application for Department of Energy (DOE) recommendation by September 16, 2009. The federal government has allocated $2.3 billion for this credit. If the limitation is reached during the first allocation round (2009-2010), then no further credit will be permitted.