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Live transcript from the Boxwood Automotive Plant, Delaware. Vice President Joe Biden and Fisker Automotive CEO Henrik Fisker speak.

10:37  Introductions, including Vice President Biden and Henrik Fisker.

10:40 First Speaker, Car Czar Ed Montgomery. He gets his largest applause when he says “This plant will allow us to export electric cars to other countries.”

10:43 Next Speaker, Rep. Mike Castle- He thanks Mr. Fisker for his company’s diligence in selecting the Boxwood plant.

10:48 Sen. Ted Kaufman- Miss quotes Jerry Maguire by asking “Where’s the Money?”, He’s proud to see that Delaware is leading the way for more green jobs in the US.

10:50 Sen. Tom Carper- “Hands that built Pontiac Solstice can build Ninas.”

10:59 Gov. Jack Markell- He says, “I can think of no better partner to reopen this plant than Fisker Automotive. ” There is still a lot more work to be done in order to bring the potential of Fisker Automotive into successful reality. He presents a gift to Henrik Fisker and Barney Koehler, a jacket with the UAW logo and Fisker logo on it.

11:11 Henrik Fisker, CEO Fisker Automotive- He starts by giving an overview of Fisker Automotive. ‘We have always planned to use the development of the Fisker Karma to bring down the price of the drivetrain for Project Nina.” Originally this was going to start in another 3 years, thanks to the loan this project starts today. ‘We plan to export at least 50% of the cars manufactured in this plant.”  Fisker choose this plant for several reasons. First, the skilled workers in the area. Second, the amazing reception they received from the governor and the other state officials. They really showed that they wanted Fisker to work with them. Delaware showed that they could do business in a fast and efficient way. Third, the plant has great facilities from the assembly line to the paint shop and more.

11:20 Dave Meyers, UAW- Thanks several people and then introduces “Our Joe.”

11:22 Vice President Joe Biden- He talks about the plant closing and how hard that was on the community and the individual workers and their families. The doubters were wrong about our ability to manufacture cars for the world. “I believe we can lead the world in automobile manufacturing for the next century.” “It’s a bad bet to bet against America!” The cars that we build here are truly going to be the cars of the future. Biden then goes on to mention his favorite quote from Henrik Fisker, “It’s not enough to build an electric car, it’s got to have muscle and it’s got to have looks.” From investments in battery technology to charging stations we are placing a bet on the future.  “Today’s announcement is the first sign that this bet is starting to pay off.”

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Fisker Automotive CEO Henrik Fisker is a noted car designer. And now he’s trying his hand at running the whole show: his company plans to bring the plug-in blood pressure hybrid Karma to the market next June.

Additional information can be found in this companion article.

[Source:AutoWeek]

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There are a couple new items that have come out of the speech. However, most of it is just confirmation of information and a continued commitment to the consistent messages we have all come to know.  It does sound like there have been a couple of new dealers added to the network.

We have selected 45 premium retailers in the U.S. market to sell this vehicle. Our dealers all own multiple dealerships.

More about this soon.

As for the consistent message:

Our Karma, we hope will take about 3% of the plug-in hybrid market. Our car will be delivered starting next June. We have pre-sold 1,500 cars so far. Our customers come from premium brands mainly — 60%. Mainly BMW and Mercedes. 3% are former Prius owners.

No surprises here, but always good to hear the message valium reinforced.

He did talk a bit about Project Nina.

Goal will be to manufacture 100,000 vehicles per year. We plan to export more than 50% of these vehicles. This will leverage 62% of the design and engineering of the initial Karma K1 platform.

All the work that has gone into the Karma should really pay off with the development of Nina.

We are starting with a $80,000 car, going down to a $40,000 model, but hopefully we will go down more than that in the future eventually. We hope to become a large and significant player in the world as we build a brand that is a pure green brand.

What a great mantra for the New American Car Company.

[Source:  PaulAllen.net Picture: CarandDriver.com]

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American automaker Fisker Automotive was recently approved for a conditional loan of $528 million by the Department of Energy (DOE). While news reports were mostly factual, some ignored or marginalized the truth, or sensationalized irrelevant aspects of the loan and our company. Fisker Automotive would like to present the facts.

Fisker Automotive is an American car company based in Irvine, California.  The company’s goals are to help restore the U.S. as a leader in the global auto industry and to eliminate America’s dependence on foreign oil.

These DOE funds will help Fisker Automotive create or save at least 5,000 U.S. jobs, bring to market affordable, American-made plug-in hybrid vehicles and save more than 821 million gallons of gasoline (43.2 million barrels of oil) by 2016.

No DOE funding will be used for overseas operations.

Through private funding, and at no cost to taxpayers, the company has already supported hundreds of American jobs by partnering with major auto suppliers to develop the world’s first production plug-in hybrid car, the Fisker Karma.

This will put the American auto industry ahead of foreign competition.  The Karma has been designed and engineered in the U.S. with the majority (65% by cost) of its parts sourced from American suppliers. Fisker Automotive searched for a U.S. plant to assemble the Karma, but none were willing or able to build the 15,000 of these advanced vehicles per year Fisker required.

The low-volume Karma will therefore be assembled in Finland by Valmet Automotive, one of the most respected contract auto builders in the world.

The next generation Karma will be built entirely in the U.S.  The Karma is a technology leader necessary to reduce costs for Project NINA, the development of a more affordable, family-oriented plug-in hybrid vehicle to be made in America at a retooled assembly plant in 2012. The resulting vehicle will sell for about $39,900 after federal tax credits.

Engineering on Project NINA has already begun.

Fisker Automotive expects to export half its vehicles, the most of any American car company.

As reported by the DOE, 9.3 million of the loan will be used by Fisker Automotive as the company works with primarily U.S. suppliers to complete engineering work on the Karma.  This work will be conducted in Pontiac, Michigan and Irvine, California.  The remaining $359.36 million will support Project NINA and its manufacture of 75,000-100,000 plug-in hybrids per year at a retooled U.S. assembly plant, beginning in 2012.  The DOE loan is conditional. In order to receive the funds Fisker Automotive must meet very specific milestones. Money is disbursed in small amounts only if the company successfully reaches these milestones.

The funds will be repaid, with interest, to the American taxpayer.

Some have asked questions about the cost of the cars.

Any new technology is expensive. Televisions, cell phones, refrigerators and even cars themselves were once too expensive for most. In time, however, costs come down. The same will happen with Fisker’s plug in hybrid electric vehicles.  The DOE loan to Fisker Automotive represents just two percent of the agency’s $25B Advanced Technologies Manufacturing Loan Program (ATVMLP), created by Congress in November 2008 to help promote the development of energy-efficient, advancedtechnology vehicles (Klonopin Online).

American cars have long been underrepresented in the global marketplace, especially those in premium segments. The U.S. used to be known for building the most exciting and desirable cars in the world. It is time America is again at the forefront, and gives buyers the choice to purchase a desirable environmentally friendly car.  When it comes to cars, an environmental strategy is no longer an option, it is a necessity.  With the help of the Department of Energy, Fisker Automotive is taking action and making an investment in the future. We are immensely proud of what we are doing, and that we are doing it here in America.

It is unfortunate how false information can be disseminated and it is our intention to correct as much of it as possible.

Henrik Fisker, CEO

[Source: Fisker Automotive Picture: Car and Driver]

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At its global headquarters in Irvine, California, Fisker Automotive is abuzz with activity. Designers, engineers, clay modelers dedicate their talents and tools to bring the world’s asthma first luxury plug-in hybrid, the Fisker Karma, to life.

[Source: MotorWeek]

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