Fisker Hires Investment Bank to Line up Strategic Partner Investors
Fisker AutoÂmoÂtive has cerÂtainÂly been through a wave of trouÂbles, from recalls of its A123 SysÂtems-made KarÂma batÂtery pack, to losÂing sevÂerÂal KarÂmas durÂing HurÂriÂcane Sandy. Now, the comÂpaÂny is lookÂing for investors to get through this rough periÂod. AccordÂing to recentÂly hired CEO Tony Posawatz, Fisker AutoÂmoÂtive is workÂing with investÂment bank EverÂcore PartÂners to assist in linÂing up investors. The comÂpaÂny is in disÂcusÂsions with mulÂtiÂple strateÂgic partÂners both in ChiÂna and in Europe.
Fisker haltÂed assemÂbly of its KarÂma range-extendÂed elecÂtric luxÂuÂry sedan sevÂerÂal months ago, when its lithiÂum-ion cell supÂpliÂer A123 SysÂtems declared bankÂruptÂcy. It is assumed to have proÂduced 2,000 to 3,000 KarÂmas before proÂducÂtion was shut down. Fisker said it has approxÂiÂmateÂly 100 batÂtery packs on hand from A123, which will allow it to proÂvide serÂvice parts. That numÂber is not sufÂfiÂcient to restart KarÂma proÂducÂtion, howÂevÂer.
The comÂpaÂny lost about 300 new KarÂmas to flood waters and fire at a New JerÂsey port durÂing HurÂriÂcane Sandy. While EverÂcore advised GenÂerÂal Motors durÂing its bankÂruptÂcy, Posawatz specifÂiÂcalÂly ruled out bankÂruptÂcy for Fisker. Fisker could be sold outÂright, though.
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