Fisker Nina on hold as the company is searching for new funding after loan was suspended

Article by Christian Andrei, on March 1, 2012

Fisker is seeking new funding to continue the development of the Fisker Nina, which was set to start selling in 2013 and which rivals the BMW 3-Series. Fisker was compelled to halt work on the plant where the Nina is meant to be produced after the suspension of a $529 million loan that was offered by the US Energy Department from a fund meant to speed up growth of companies making alternatively powered cars.

The US Energy Department claims that Fisker has failed to reach targets for the Karma production but Fisker sources say that they’re held up by the political turmoil during the US election year.

This prompted Henrik Fisker to say that developing the Nina will be financed privately. However, he admitted that it will take some time to secure the new support.

This report is made simultaneously with the declaration of a management reshuffle at Fisker. Fisker has transferred to the role of executive chairman, with the company being placed in the able hands of Fisker’s vice-chairman Tom LaSorda.

Topics: fisker

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