Fisker delays its Bmw 3-Series rival

Article by Christian Andrei, on February 13, 2012

After a funding dispute with the US Department of Energy, Fisker Automotive was compelled to postpone ‘Project Nina’, a range-extended saloon that will compete against the BMW 3-Series. The earliest that it could be released is autumn 2013. DoE was expected to provide funding of $529 million to kickstart Project Nina, which will be produced at the former General Motors plant in Delaware. To date, $193m of the DoE loan has been received by Fisker. This figure has enabled the automaker to re-commission the plant and attain a higher stage of engineering, design and development of the car.

However, the government department said that targets haven’t been met and so, the automaker has been blocked from getting access to the DoE loan.

The intensified scrutiny of DoE loans in the US was brought about by the collapse of a solar panel company that had gotten a loan and wasn’t able to repay it. Fisker is currently in talks to renegotiate the terms of its loan with the DoE however, the delay has prompted the lay-offs of 26 workers at the Delaware plant.

Due to this dispute, Project Nine falls a minimum delay of three months to Project Nina. The Karma, the company’s first model, is not affected by the funding dispute. It said that its first model, the Karma, wasn’t affected by the funding dispute and has brought about 50 units to US customers. There’s another 2000 that’s built and ready to distribute.

Topics: fisker, bmw, bmw 3-series

If you liked the article, share on:


Login or Create new account to add a comment!


Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016
Many are already expecting BMW to launch an ultra luxurious SUV that will serve at its new flagship by late 2018. Larger than the X5 and X6, the new X7...
by - October 21, 2016
Most of you may have heard or already have one of those autonomous home appliances doing the house chores. Thus, it’s not anymore unusual to see a car going places...
by - October 20, 2016