Fisker Automotive has come along way from the original company Fisker Automotive that was first announced in 2007. The current company is an automotive manufacturer with investment from private equity and Department of Energy government loans in the hundreds of millions.
The money will go toward production of the Karma extended-range electric vehicle as well as the Project NINA, a low-car built at a former General Motors facility in Delaware.
The Karma is the company’s first real production car, and its been in the news since its introduction at the North American International Auto Show in 2008.
The car has been beset by many delays – originally it was supposed to come in November 2009, then September 2010 and now the start date for production is being pegged as March of this year.
The delays ended plans to beat the Chevrolet Volt to market. The announcement comes off the back of a jump in price for the car as well, now up to $95,900 from $87,900.
The delays would be worrying if the company didn’t have a large amount of funding behind it. However, with hundreds of millions of private equity and governmental aid, it is likely the car will make it to production.
The question is if the car will hit its production goals of 15,000 units per year. For the entire company globally that represents just 1,250 units a month, and that seems like a pretty achievable goal. At that level, Fisker Automotive says it will be profitable. We’re looking forward to see the car actually out on the road for once.
