Fisker Says It Will Resume Karma Production ‘Fairly Soon’

Some people watching Fisker Automotive have predicted the company will not survive, especially since it was revealed it has stopped Karma production and its battery supplier filed for bankruptcy in October, but assembly is reportedly due to resume.

Last week, company co-founder Henrik Fisker told reporters production will begin again “fairly soon.”

He gave no exact date for this, but confirmed recent reports Fisker is in talks with the Chinese buyer of A123 System’s business assets, auto parts giant, Wanxiang Group Co.

“We are negotiating with them,” Henrik Fisker said of Wanxiang and A123 in response to a question about Fisker again receiving batteries.

As for the A123 sale, last month, Wanxiang was approved to purchase most of A123’s assets by the U.S. Committee on Foreign Investment. The federal oversight was deemed necessary due to national security concerns.

Henrik Fisker was also asked but declined to share specifics about the search for new investors.

“We have several interested parties,” he added.

What is known is late last year Fisker hired Evercore Partners Inc. to aid it in its search to find potential investors or partners.

And prior to this, Fisker has done a decent job of raising venture capital, but plays its cards close to its chest, having become a favorite target by certain pundits who link the company with President Obama’s political agenda.

In a recent interview with HybridCars.com, for its part, Fisker said its agenda is the same: To become an American car manufacturer producing extended-range EVs, and the Atlantic is next up on its roster.

The company stopped worked involved in preparing its wholly owned Delaware assembly plant to build the upper mid-level Atlantic, and has long since said its aim is to produce this car in the U.S. and effectively prove naysayers incorrect.

Bloomberg