Mexican Media Brands
Fisker Shops Overseas for Help
Fisker Automotive Inc. says it is looking for an investor, partner or buyer to get its hybrid car program back on track.
#hybrid
Share
Fisker Automotive Inc. says it is looking for an investor, partner or buyer to get its hybrid car program back on track.
The company hired investment bank Evercore Partners Inc. earlier this year to help with the search after the U.S. Dept. of Energy froze the California carmaker's $529 million loan in February.
CEO Tony Posawatz tells The Wall Street Journal that Fisker is in "serious discussions" primarily in Europe and China with a number of potential partners. Unidentified sources tell the newspaper that selling the company is another option.
The Journal also says the company's board has discussed the possibility of seeking bankruptcy protection. But Posawatz emphasizes that the company has never considered Chapter 11 "in earnest."
Fisker has recalled its $107,900 Karma extended-range hybrid sedan three times this year, laid off half its staff and suspended development work on the $50,000 Atlantic sedan.
Last month the company said it was forced to stop making the Karma after its battery supplier, A123 Systems Inc., filed for bankruptcy in October. The Journal says Fisker halted production in July to conserve cash.
RELATED CONTENT
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
Aluminum Sheet for EV Battery Enclosure
As the number of electric vehicles (EVs) is about to increase almost exponentially, aluminum supplier Novelis is preparing to provide customers with protective solutions
-
GAC, CATL Partner on Two Battery Ventures
Two new battery ventures are being formed in China by domestic carmaker Guangzhou Automobile Group Ltd. and battery giant Contemporary Amperex Technology Ltd.