Fisker planning six new vehicles, considers issuing IPO

Article by Christian A., on October 11, 2010

Fisker’s goal to be a company that only makes plug-in hybrid vehicles is highly ambitious, especially when you consider that the company has yet to sell a single model. To fund its plan to offer a range of six vehicles in the next five years, Fisker is considering issuing a stock IPO after the launch of the new Karma.

Recently, the first Karma plug-in hybrid luxury sedan produced at the Valmet plant in Finland was displayed at the 2010 Paris Auto Show. In an interview with the Financial Times, Fisker CEO Henrik Fisker said the company has several more models in the pipeline.

Of course, this requires hundreds of millions of dollars to accomplish. Fisker may soon emulate Tesla, which was able to earn $226 million from its own IPO earlier this year.

With these high funding requirements, Fisker might soon become a public company as well. These funding would be in addition to the $300 million that Fisker already raised from private investors, as well as $529 million in low-interest loans from the US Department of Energy.

If Fisker’s plan goes smoothly, it will be able to launch a more affordable model named the Nini in 2012, as well as two other models slotted underneath the Karma.

Fisker is also working on a convertible version of the Karma and a possible sports car model to compete with the Tesla Roadster. Fisker estimates that about 15,000 Karma cars will be produced each year, half of which will be offered in Europe. Priced from $87,900 in the US, the Karma is expected to go on sale in March 2011. [via MotorAuthority]

Topics: fisker, ipo

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