Government loans
Republicans Look to End Auto Loan Program
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House Republicans are looking to kill the loan program that helped give Fisker and Tesla life.
Alternative Vehicle Loan Program Coming Back Online
Despite criticism by Republican lawmakers, the Department of Energy loan program designed to encourage alternative vehicles is ready to resume.
Tesla Repays Government Loan Nine Years Early
As expected, Tesla has repaid its government loan nine years early, becoming the first American automaker to have paid back the government.
Tesla Aims to Repay Government by Wednesday
Elon Musk, Tesla’s ever enigmatic CEO, announced over Twitter that the company will likely repay its government debt by Wednesday, May 22.
Department of Energy Reclaims $21M from Fisker
The U.S. Department of Energy recovered $21 million from Fisker Automotive, the floundering company behind the Karma plug-in hybrid luxury car.
Fisker Entertaining Possible Suitors
Fisker seems to be falling on hard times, and a new report suggests the brand might be on the market with Chinese firm Dongfeng Motor Corp tossing a $350 million offer into the ring.
Former President Bush Says He Would Bail Out Automakers Again
While still in office, Bush pushed through a rescue package of some $25 billion in emergency aid, $4 billion set aside for Chrysler, while some $13.4 was allocated to GM; this was followed by an additional $60 billion from the Obama administration in 2009.
Fiat Takes Majority Stake In Chrysler
They made the threat before, but now it’s official: Fiat controls 52% of Chrysler, and just like in 1998 The House That Walter Built resides mostly in Europe. Late Thursday night the US Treasury Department agreed to sell its remaining 6% stake in Chrysler to Fiat, with a price tag of $500 million. And with…
Fiat Planning To Acquire Last Government Stake In Chrysler
It’s been a dramatic week at Chrysler‘s financial department. Now that Chrysler’s paid off its bailout loan from the government, Fiat is looking to step in and take the government’s remaining share off its hands. Fiat already holds a not-insubstantial 46 percent share in Chrysler. But even though Chrysler and the U.S. and Canadian governments…
Chrysler To Repay Government Loans This Summer Thanks to Creative Debt Refinancing
Chrysler Group LLC has just announced that it plans to fully repay the loans it took from the U.S. and Canadian governments by the middle of this year. In a statement from the auto maker, it says “Chrysler Group intends to complete the repayment during the second quarter of 2011 from proceeds of a new…
Saab Deal With Volvo Apparently A No Go
However, Volvo has now gone on the record, stating that no such talks have taken place. In the meantime, Saab CEO Victor Mueller, is continuing to look for other sources to tap into for capital, including Chinese automakers.
Lotus Looking For Government Backing For Its Future
Last year, some American car companies looked to their government for financial help to keep them afloat and use the money to develop new products. Some of them have actually used the money properly and produced some decent new models. Over in the U.K., Lotus is looking at the British government to help out in…
GM Withdraws European Loan Applications, Opts to Fund Opel/Vauxhall Programs Itself
However with the German government seeking to enter new negotiations, GM has pulled the plug on external fundling.
