Fisker Automotive appoints Tony Posawatz as new CEO

Article by Anita Panait, on August 21, 2012

Fisker Automotive has named Tony Posawatz, former chief engineer for the Chevrolet Volt, as its new chief executive. Posawatz replaces Tom LaSorda, a former Chrysler chief executive, barely six months after the latter took over the top post at Fisker. The carmaker, however, did not cite any reason for LaSorda’s departure from the company.

Posawatz’s arrival at Fisker came at a point when its officials are scrambling to avert a cash flow shortage. According to Henrik Fisker, Fisker Automotive's co-founder and executive chairman, even though its second vehicle, the Atlantic, has been under development for some time, Posawatz will play a vital role in the final unit.

Despite gaining a respected EV engineer in Posawatz, Fisker lost LaSorda, its best manufacturing brain, at a time when the carmaker tries to commence the production of the Atlantic, a mid-sized plug-in hybrid sedan expected to be priced between $50,000 to $60,000. Fisker is planning to sell the Atlantic in greater volumes than its Karma sedan. The company sold only over 1,000 Karmas in the US since its rollout in October 2011.

Fisker needs to sell more vehicles to generate the revenue the carmaker needs to survive in the long term. Fisker, however, is facing one big problem – the company is nearly cash-strapped and it needs a large amount of money to start producing the Atlantic.

Fisker originally set the production of the Atlantic to commence in late 2012. The Atlantic was to be the leader in Fisker’s product offensive that would include a Fisker convertible and five-door wagon. Fisker unveiled the Sunset convertible concept in 2009. Henrik Fisker told Autoweek in 2011 at the Frankfurt auto show that the Sunset would be rolled out for sale in 2013.

Fisker Automotive is excited to reveal its new variant, the Atlantic car. This is the newest variant in the brand's extensive roster of extended-range luxury cars that is electrically powered.

Released as a design concept at an exclusive VIP preview show the evening prior the 2012 New York Auto Show press days start, the Fisker Atlantic prototype is a four-door luxury athletic car with a practical cabin. It is targeted for young families who desire to ride a high-end, impactful car and at the same time giving a good statement regarding responsibilities - both in terms of their promises of practicality and sustainability for daily use.

Atlantic utilizes the brand new 2nd batch EVer (Electric Vehicle with extended range) technology. It will provide all the benefits of electric ride and also cut the "range anxiety" experienced on an all-electric powertrain.

Similar to the Karma car, the Fisker Atlantic is a plug and play series hybrid car that enables drivers to change automatically or manually and choose between gas or electric driving and keep the charge of its batteries when the car is being used for fuel.

Its 4CC gas engine, which serves as a generator and is not mechanically incorporated to the tires, is refined to provide top economy and max torque. This Atlantic EVer powertrain will show an extremely competitive performance for a vehicle in its segment. The basic powertrain will be built for back-wheel drive and an all-wheel drive variant will be available to provide more choices.

The Atlantic architectural prototype's glass ceiling flaunts a ridged 'spider' appearance. This super durable structure also enables the Atlantic to give a good space for the back headroom despite its elegant, coupe-like built.

Topics: fisker, ceo

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