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New Fisker aiming for mid-2016 production Karma restart

One slow step at a time, Fisker is getting things buzzing again with a headquarters in Costa Mesa, CA, and an upcoming factory in Moreno Valley, CA. But the company is keeping quiet about when the first new Karmas might actually hit the road, at least until now. According to Jim Taylor, the company's chief marketing officer, who spoke to The Orange County Register, the reborn automaker plans for a relaunch in 2016, probably in the middle of the year. Unfortunately, Taylor didn't nail down a timeframe any more specific than that. "We won't make any promises to say this is our launch date, get ready," he said to the OCR. Fisker still has some hiring ahead of it before the company is ready to actually produce vehicles again. The headquarters currently has 200 employees, including a new executive team, and is still adding people. As opposed to assembly at the Valmet factory in Finland (where the Karma was originally built), another 150 workers should be at the new 556,000-square-foot California factory when things get rolling there. The Karma's relaunch is already seeing delays, and the details about any changes to the vehicle still aren't clear. The engineering team is repurposing some of the 150 unsold original Karmas as test platforms, according to the OCR, and they are creating bespoke software for it. Also, A123 Systems, now a corporate sibling of Fisker under Wanxiang, is reportedly supplying updated batteries with different chemistry compared to the previous, recalled units. Styling is rumored to be very similar previous version, and the luxury sedan remains an extended-range plug-in hybrid. After getting sufficiently staffed, engineering complete, and production underway, the next major challenge is actually selling the relaunched Karma. Fisker still needs to expand its sales network. Although, repairing old examples for customers at points around the country could provide a foothold. Related Video:

Fisker could be renamed when production restarts in 2015

The Orange County Register has an update on Wanxiang's plans for Fisker, and it starts with the idea that you would see brand new Karmas back on the road in mid-2015. From there the goals get less certain, the OCR saying the Surf station wagon "could ship in 2016" and the mid-priced Atlantic "might come in 2017." The targets came from an interview with interim CEO Roger Brown as he laid out how fluid the present situation is. The primary certainty, according to Brown, is that new owner Wanxiang is determined to execute on its vision and "build a great car company." The puzzle pieces that make that picture are still being assembled – even the name of the post-bankruptcy company, Fisker Automotive for now, is being debated. No matter what the name will be, Wanxiang and Brown need to establish the blood and bones of a company that can provide what the original Fisker Automotive didn't. Brown said they're looking for a permanent CEO over the next three months, they need to settle on a location for headquarters and increase the staff from the current 25 to the 200 or so necessary to engineering a fully fleshed-out Karma and successive products, and figure out where cars are going to be built. Concerning workers, Brown revealed that, "We've been flooded with people that want to come back." As for manufacturing in the Delaware plant that Fisker Automotive still controls or somewhere else, we've heard there are even odds on US production, but the final answer will probably be delivered by the new CEO.

Fisker hires adviser to prepare for possible bankruptcy filing

Electric vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company has hired financial adviser FTI Consulting and the law firm Davis Polk to work on a potential bankruptcy filing, according to the report. Fisker declined to comment. According to CNN, Fisker's stock price fell more than 40% in after-hours trading after the report was published. Overall, the stock is down more than 80% since the start of 2024. Earlier this month, Fisker flagged going-concern risks, job cuts and a pause in investments into future projects until it secures a partnership with a manufacturer. Nissan was in advanced talks to invest in Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck, Reuters reported earlier this month, citing two people familiar with the negotiations.   Earnings/Financials Green Fisker