Fisker Stops Work on Car Factory After U.S. Blocks Loan
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Fisker Automotive Inc. said it halted work on a Delaware auto factory to make plug-in sedans after the U.S. Energy Department blocked access to its federal loan, citing unmet milestones.
Fisker, behind schedule in selling its first car in the U.S., laid off 26 people in Wilmington, Delaware, the company said yesterday in an e-mail. Access to the loan has been blocked since May, said Roger Ormisher, a spokesman.