New York (CNNMoney) - Fisker Automotive, maker of the plug-in hybrid Fisker Karma luxury car, has laid off 75% of its workforce, keeping only a small core group of executives, the company said Friday.
Prior to the lay-offs Fisker had had about 200 employees.
New York (CNNMoney) - President Obama outlined new plans Wednesday to support the sales and use of alternative-fuel vehicles - including cars and trucks that run on hydrogen and natural gas instead of just those that run on electricity.
The plans are part of a $1 billion National Community Deployment Challenge intended to support the use of natural gas and other alternative fuel technologies, in addition to plug-in vehicles. The president also announced separate incentives to encourage individuals and businesses to purchase alternative-fuel vehicles.
NEW YORK (CNNMoney.com) - The $3 billion Cash for Clunkers program will end on Monday, the government said Thursday.
Dealers must submit any pending Clunker deals, including any necessary paperwork, by 8 p.m. Monday.
"It's been a thrill to be part of the best economic news story in America," said Treasury Secretary Ray LaHood. "Now we are working toward an
orderly wind down of this very popular program."
Officials decided to wind down the program, which Congress passed to spur flagging auto sales, after determining that it would soon run out of money.