7:26 AM
Mr EX
Amidst all the not-so-great situations currently surrounding Fisker and which range from battery related car fires to the ushering in of a new CEO, another bombshell has just hit home for the California based company. They need $150 million (€121 million), and they need it soon.
Since their inception in 2007, the Fisker brand has raised over $1 billion (€809 million) in private finances to back the Karma project, but now they need an extra cash flow in order to finalize production of their newest Atlantic model in the very near future.
Having been denied a $529 million (€428 million) government loan in the past, Fisker was unable to fund the newly opened Delaware plant where the Atlantic was slated for future production.
The company was then forced to tenuously squeeze-out $400 million in funding from private investors, now, the daunting task of an extra $150 million could prove even more difficult.
In a recent interview with Reuters, Ray Lane, a Fisker managing partner at venture firm Kleiner Perkins Cuafield and Byers, had little details as to how they were going about finding all these extra funds.
“We need money on our balance sheet, and we need money to fund the development of the next car. We’re raising some of that money now, and some later.”
While Fisker has yet to officially release a production date on the Atlantic, rumors say that the project has been pushed back to mid-2014 as the 2015 model year.
By Jeff Perez
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