Fisker to Resume Production ‘Soon,’ Co-Founder Says
Fisker Automotive Inc., the maker of plug-in luxury sports cars, will resume production “fairly soon,” the company’s co-founder said.
Henrik Fisker, executive chairman and former chief executive officer, declined to specify a date for resumption. He commented to reporters yesterday following a speech at the Chicago Auto Show.
Fisker, maker of the $103,000 rechargeable Karma sedan, is struggling because battery supplier A123 Systems Inc. filed for bankruptcy in October, halting Karma production. Fisker late last year hired Evercore Partners Inc. to find potential investors or partners as the Anaheim, California-based carmaker looks to raise more money and resume production.
Wanxiang Group Co. in January won approval from the Committee on Foreign Investment in the U.S. to buy most of A123’s assets. Wanxiang said last month it wants to support Fisker.
“We are negotiating with them,” Henrik Fisker said of Wanxiang and A123 regarding when Fisker can again receive batteries. The executive also declined to comment in detail about the search for new investors.
“We have several interested parties,” he said.
Closely held Fisker suspended work in a Delaware plant last year when the Energy Department halted access to a portion of a federal loan because of failure to meet initial sales and production goals for the Karma.
Henrik Fisker yielded the CEO post in February 2012 to Tom Lasorda, a past president of the predecessor of Chrysler Group LLC. Tony Posawatz, a former General Motors Co. executive, took over as CEO in August.
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