Electric car startup Fisker Automotive Inc said on Monday it has suspended work at its U.S. manufacturing plant and laid off 26 workers while it renegotiates the terms of its $529 million loan from the U.S. Department of Energy.

The company said in a statement that it has received $193 million of the DOE loan so far, mostly for its Karma vehicle, which was introduced late last year.

Fisker's Wilmington, Delaware plant is expected to manufacture the company's second vehicle, known as the Nina. The $336 million balance of its DOE loan is intended to fund the Nina program, Fisker said.