It’s been Christmas for a while now for automakers that intend on making EVs.  The DOE has a large pool of money set aside to dole out to those it deems worthy.  Fisker recently passed that test and was awarded $527 million to help them develop hybrids that will be affordable.

As of now the only car that Fisker has announced is the Karma.  At $80,000+ I wouldn’t call that exactly affordable.  So Fisker is going to have to produce another, cheaper car.  And that’s exactly what they state they’re going to do.  The majority of the loan will go to developing a plugin hybrid in the same vein as the Karma or the Chevy Volt that will cost just under $40,000.

“This conditional loan represents a significant step in America’s future,” said Henrik Fisker, CEO. “With it Fisker Automotive can rapidly develop affordable clean cars that satisfy our passion for driving and help restore the U.S. as an auto industry leader.”

Fisker says that the loan will save or create 5,000 jobs in the US.