Orange County Business Journal

Report: Fisker Delays Production on New Model

Chris Casacchia Thursday, May 17, 2012

Fisker Automotive Inc. has pushed back production of its newly named Atlantic model to 2014, according to leaked internal company documents.

The company in September said it would begin producing its lower priced luxury hybrid sedan model later this year for a sales launch sometime in 2013.

That timetable has been delayed to 2014, with a roll-out extended to 2015, according to the website Inside EVs, which obtained the documents.

The company declined to comment on “material that is clearly proprietary and confidential and has been leaked even though it was given under a [nondisclosure agreement],” said Roger Ormisher, the automaker’s global communications director.

“However, I will say that Atlantic is very much part of Fisker’s future plans, and once we have confirmed the necessary funding, either from the DoE or other sources, then we will be confirming a new timetable for the program.”

The spokesman declined to elaborate on the statement.

Fisker has been tight-lipped on production timetables or sales projections both for its flagship Karma and the Atlantic after missing production and sales milestones laid out by the Department of Energy.

The federal agency has declined numerous media inquiries and Freedom of Information requests to disclose those exact milestones.

Fisker has been negotiating with the federal government for months to disperse the rest of its $529 million loan. It has received $193 million of the loan, according to the company, with the remaining $336 million subject to renegotiation.

Fisker had planned production of the Atlantic model at a former General Motors Co. plant in Delaware it purchased for $18 million. But more recently, it has declined to address particulars of its production plans for the vehicle.

The hybrid four-cylinder features four seats, a longer wheelbase and more trunk space.

The Atlantic is expected to sell for about $50,000 and is widely seen as a make or break model for Fisker and a bellwether for the electric-car industry.

According to the leaked documents, the car will compete against the BMW 3 and 5 series, Mercedes C and E class, Jaguar XF and Audi S4/A6.