Fisker Atlantic Production Delayed to Late 2014

After launch delays and quality issues with the $100,000 Fisker Karma sedan, the automaker is facing another setback with production of the Atlantic volume model, which is now delayed until late 2014 or 2015, Reuters reports.

The automaker hopes the $55,000 Atlantic sedan can regain the company’s credibility as well as generate profits for future models that could share the Atlantic’s platform, potentially including a midsize crossover.

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"The Atlantic is really the volume car that begins to build growth," said Tony Posawatz, CEO of Fisker, during a conference call with investors and analysts. "It creates a business model that is one where we can really generate cash in the future."

Although development of the Atlantic is 90 percent complete, Fisker may try to find partners to share its technologies to raise funds to put the hybrid sedan in production. Fisker has sold about 1500 Karmas so far, through 79 retailers in 16 countries.

Originally Fisker intended to build the Atlantic at an old GM plant in Delaware it purchased in 2010, but after the U.S. Department of Energy froze its $529 million loan because of production delays and quality issues with the Karma, the Atlantic could be built elsewhere. The automaker could use the renovated plant for Fisker suppliers whether or not the Atlantic is built there.

Source: Reuters

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