Fisker Automotive has laid off workers as it tries to unlock more of the $529 million Department of Energy loan it's using to produce its vehicles.
So far, Fisker has received $193 million to build its plug-in hybrid sports car and retool a former GM plant in Wilmington, Del., scheduled to open this year. But Uncle Sam has put away its checkbook, putting a crimp in the California-based company's production plans, according to the Associated Press.
Fisker hasn't met requisite development and sales milestones, and until new terms are reached, the DOE has cut off additional funds. … Read more