BUSINESS

Fisker Automotive Gets $529 Million Government Loan To Build Electric Cars

11/27/2009 05:12 am ET | Updated May 25, 2011

A tiny car company backed by former Vice President Al Gore has just gotten a $529 million U.S. government loan to help build a hybrid sports car in Finland that will sell for about $89,000.

The award this week to California startup Fisker Automotive Inc. follows a $465 million government loan to Tesla Motors Inc., purveyors of a $109,000 British-built electric Roadster.

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