Fisker Needs Another $150 Million for the Atlantic

Fisker Atlantic 1 photo
Photo: Fisker
Fisker Automobile has just appointed Tony Pasawatz, the ex head of the Chevy Volt program for GM, as CEO. But that won’t solve the company’s financial problems, as the Atlantic sedan project is behind schedule.
According to Autonews, Fisker needs at least $150 million in order to fund the launch of production for their second model, a more affordable electric sedan. The company has already secured over $1 billion in capital since 2007, but the need for new capital could push the launch of the Atlantic until 2014.

The Atlantic going to be an EV with extended range capabilities, and reports indicate the car will use a BMW-sourced 2.0-liter turbocharged four-cylinder gasoline engine as a range extender. It should roll out of their Delaware factory in 2014.

“We need money on our balance sheet” to fund operating expenses, said Ray Lane, a Fisker director and a managing partner at venture firm Kleiner Perkins Caufield & Byers. “And we need money to fund the development of the next car.”
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About the author: Mihnea Radu
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Mihnea's favorite cars have already been built, the so-called modern classics from the '80s and '90s. He also loves local car culture from all over the world, so don't be surprised to see him getting excited about weird Japanese imports, low-rider VWs out of Germany, replicas from Russia or LS swaps down in Florida.
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