In April, Fisker showed a slightly smaller and significantly cost-reduced model that should sell for perhaps close to $55,000. It would be called the Atlantic, and be manufactured in Fisker's Delaware factory. The problem here is that Fisker has been short on cash, especially since it's estimated Fisker would need $130 million to $150 million to finish the development of the Atlantic. As things go with automotive development, it would probably take over two years to wrap up this development.
With all of these obstacles, one might wonder if Fisker would even have a chance to "make it" for the long term. Then, as Fisker was mentioned in the presidential debate, I finally saw that the answer was right in front of us. The data points are all available, and we need only to connect the dots. Let's take them in turn:
1. Fisker just got a new high-profile CEO.
Former Chrysler CEO Tom LaSorda replaced Henrik Fisker as CEO in early 2012, although this was deemed to be a temporary stop while Fisker sought a permanent CEO. Six months later, LaSorda was replaced by Tony Posawatz, who left General Motors (GM - Get Report) where he had been "Vehicle Line Manager" for the Chevrolet Volt since inception.Posawatz is extremely highly regarded in the industry, principally for being one of the team leaders shepherding the iconic Volt to its position as the world's most successful electric car to date, with exceptional reliability. Tony's closest executive for the Volt program -- Frank Weber -- was picked off by BMW in April 2011 to lead BMW's development of three models that will compete with the Volt: The i3, the i8 and the recently announced Active Tourer. Thickening the plot, BMW will also deliver a key component -- the four-cylinder generator gasoline engine -- for the Fisker Atlantic. BMW is also the place where -- you guessed it -- Henrik Fisker cut his teeth in the 1990s. A man such as Posawatz would not leave his successful job at GM for a relatively tiny startup seemingly on the ropes unless three factors were in place: A. That Fisker, just like Tesla did, would team up with a major car maker to manage its electric car program. B. That Fisker would obtain the necessary funding to develop at least one new car. C. That Fisker would be on a path to an IPO -- quickly, not as a pie-in-the-sky hope. 2. Fisker just got a new round of funding! It looks like Fisker's new CEO gave the company enough credibility for investors to cough up at least $100 million in new funding. Media reports suggest Fisker obtained just that, a little over a week ago. 3. Would Fisker team with Fiat/Chrysler to develop new cars? Most major car makers have announced internal developments for the kind of extended-range hybrid cars that Fisker makes, as well as all-electric ones. A comprehensive list here would be too long, but here are some examples:
- GM: The Volt, the upcoming Spark and Cadillac ELR
- Ford: The C-Max Energi, Fusion Energi and Focus Electric
- Honda: The Accord plug-in hybrid and the Fit Electric
- Toyota: The Prius plug-in and RAV4 Electric
- BMW: The i3, the i8 and Active Tourer
- Mercedes: The Smart Electric, B-Class Electric and SLS Electric
- Nissan: The LEAF, Infiniti LE and a few vans
- Mitsubishi: The MiEV and the Outlander Electric
- Volvo: A couple of models...
- VW/Audi/Porsche: Numerous models starting with the VW e-Up
- Land Rover: The new Range Rover in a plug-in hybrid version