Aside from the development and production of the two environmentally-friendly lines of vehicles, the GM plant will also open up at least 2000 jobs for plenty of qualified American assembly workers. Because of the pending projects, economic experts also foresee more employment opportunities coming from service providers and domestic parts providers.

The Fisker projects are also set to contribute to reduced carbon emmicions and cleaner air. According to Secretary Chu, the release of these hybrid cars should put the production of American environmentally-friendly vehicles at the forefront of automotive design and production.

Initially, the money from the loan will be used by Fisker for qualifying engineering costs. This will be conducted in Irvine California, with the engineers designing tools and equipment and working on efficient manufacturing processes. The Karma should hit the showrooms in 2010, with the Project Nina hitting the assembly lines by late 2012.

These Fisker cars will run on electric engines which get their power from rechargeable Lithium-ion batteries. Once the power is depleted, the car will then use and efficient, gas-powered engine.

Both lines of hybrid vehicles will have an all-electric tailpipe, emission free range of forty to fifty miles when they’re fully charged. The cars can be conveniently charged at home, and the production of these vehicles is set to reduce America’s dependence on oil.

The GM facility that seized operation last summer used to produce the Saturn Sky, Opel GT, and the Pontiac Solstice. These models were killed this year as the company went into restructuring through bankruptcy.

Fisker comes up as one of the high-profile start up car manufacturers developing electric vehicles. The other player is Tesla.

Fisker unveiled the 2010 Karma sports sedan during the 2008 motor show in Detroit. The deliveries of these aggressive rides will start by May. The Fisker Karma will compete with the Model S of Tesla which is due for release in 2012.

With the low interest grants from the federal government, Fisker will be spending most of the funds to fuel Project Nina and come up with the infrastructure needed for its assembly.

The Project Nina is expected to be priced at the $48,000 line and it also qualifies for the tax credit since it is an electric vehicle. The production of Fisker is set to reach 100,000 units every year.

The Fisker team will still do their designs and engineering at their Pontiac, Michigan plant although their main office is in Irvine, California.