Hybrid Car Upstart Fisker Automotive Receives $529 Million Loan from Obama Administration.

The funds will be used to develop two plug-in electric hybrid vehicles including the world’s first plug-in hybrid luxury sports car called the Karma that would be available buy and drive for those wishing to spend approximately 80,000 USD as early as next summer.

The Karma is a sports sedan that travels 50 miles as a pure EV (on electrical power from it’s lithium battery pack) and for an additional 250 miles on a 2.0-liter gasoline APU (Auxiliary Power Unit) that “powers” a generator, which in turn recharges the battery pack. The vehicle will be assembled in Finland, using mostly U.S. auto parts. The Karma has a full-length solar roof option that will help charge the car and provide cooling for the interior cabin while the car is parked.