NewUsed

Find by category:

Exhaust Notes

Fisker expects to partner with automakers

Three potential deals are in the works.

By AutoWeek Dec 10, 2012 11:43AM




Fisker Automotive's CEO, warning of the pitfalls facing independent small automakers, says the luxury plug-in hybrid manufacturer is poised to partner with other automakers next year.


Tony Posawatz, Fisker's CEO and former chief engineer of the Chevrolet Volt, told Automotive News that Fisker is in talks for three potential deals in which executives at the "highest levels" of the companies involved are "talking specifics."


"We are absolutely committed to making this company win longer term, and the history of smaller companies living on their own in the automotive business is not stellar," Posawatz said in an interview. "We are not going to go it alone."


Posawatz said alliance deals could be completed within the next year.


The Wall Street Journal reported Friday that Fisker has retained investment bank Evercore Partners to assist the search for investors or partners. The newspaper also reported that Fisker's board has contemplated the possibility of filing for Chapter 11 bankruptcy, citing unnamed sources. Posawatz told the newspaper that "any business always has itself protected, but it has never been part of any plan in earnest," referencing the possibility of bankruptcy.


It's not clear if equity tie-ups or a possible acquisition are on the table. The newspaper said, citing unnamed sources, that Fisker has not won partnership interest from large automakers so far. The newspaper also said the company's investor search is focusing on Europe and China.


Reuters reported that Fisker spokesman Roger Ormisher denied plans that a sale of the company was on the table. Posawatza said Fisker is shopping its extended-range electric drive technology system, its "parts bin" of plug-in hybrid components and its automobile design expertise to potential suitors.


The most promising avenue for Fisker is licensing its powertrain systems to companies looking to boost the fuel efficiency of their products quickly, Posawatz said, noting that Karma already meets federal fuel economy standards that will be required in 2025.


-- Ryan Beene, Automotive News


Content provided by Autoweek.

Get more Car News from Autoweek.

Get the latest Car Reviews from Autoweek.

2Comments
Dec 10, 2012 5:55PM
avatar

Mustache-mobile.

Perhaps the partner with Gillett or Schick.

Dec 10, 2012 2:58PM
avatar
The Fisker execs obviously did not read up on the the demise of the Tucker.
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?
MSN Money

ABOUT EXHAUST NOTES

Cars are cool, and here at MSN Autos we love everything about them, but we also know they're more than simply speed and style: a car is an essential tool, a much-needed accessory to help you get through your day-to-day life. What you drive is also one of the most important investments you can make, so we'll help you navigate your way through the car buying and ownership experiences. We strive to be your daily destination for news, notes, tips and tricks from across the automotive world. So whether it's through original content from our world-class journalists or the latest buzz from the far corners of the Web, Exhaust Notes helps you make sense of your automotive world.

Have a story idea? Tip us off at exhaustnotes@live.com.