The U.S. Department of Energy said on Tuesday that next month it will sell a $192 million loan made to struggling green-car startup Fisker Automotive.
Bids are due October 7, and the auction will be held on October 11. The DOE is requiring that all bidders commit to building and engineering future Fisker vehicles in the United States.
The DOE has recouped about $28 million from Fisker, which has not produced a vehicle in more than a year. The auction will allow the U.S. recover as much of the remaining $168 million as possible, the DOE said in a blog post.