Orange County Business Journal

Fisker Working with Investment Bank on Search for Partner

Kari Hamanaka Friday, December 7, 2012

Anaheim-based Fisker Automotive Inc. has hired investment bank Evercore Partners Inc. to assist with the luxury hybrid automaker’s search for potential partners or investors, according to a Wall Street Journal report.

Fisker’s spokesman could not be immediately reached for comment.

Fisker Chief Executive Tony Posawatz told the Wall Street Journal that the company is in talks with “multiple strategic partners.”

The report went on to cite unnamed sources that said the search could result in a potential sale of Fisker.

The company denied the speculation of a sale in a Reuters report.

Fisker recently said it had stopped production of its first and only vehicle model, the Karma, due to a shortage of batteries resulting from the bankruptcy of its battery supplier A123 Systems Inc. of Waltham, Mass.

The company said it is holding its remaining supply of batteries for its existing customer base.

The company’s second model, the Atlantic, has been delayed as the company searches for alternative funding following the freeze of a $529 million Department of Energy loan after the company failed to meet certain production and sales milestones.