Recently the Associated Press reported that Fisker Automotive has stopped production of the Fisker Karma. According to Fisker, this news is false as the company continues to produce 20-25 Karmas a day. But Fisker is experiencing financial difficulties which is currently hitting their other project, a smaller car named the Nina.
Fisker applied for a $ 529 million conditional loan from the Department of Energy (DoE), of which only $ 193 million has been received. This part of the loan was mostly destined to complete the Fisker Karma, and design tools and equipment and develop manufacturing processes.
The remaining $ 336 million is still being negotiated and is intended for a the Fisker Nina, a high-volume plug-in hybrid vehicle positioned below the Karma. In 2009 Fisker announced it had to take control of the former GM Boxwood Road Plant in Wilmington, Delaware, with the intention to start production of the Nina in late 2012.
But now it appears Fisker had to temporarily delay work at the plant based on ongoing discussions with the DoE regarding funding for the Nina program. As a result, Fisker was forced put the project on hold and to lay off 26 people.
Fisker said it continues to pursue alternative funding sources for their project. The California based car maker said in a news release that much of the engineering, design and development work on Nina is complete and it expects to ramp up operations again quickly.
This is not the first setback for Fisker. Back in January it was reported the price of a Fisker Karma increased by € 23,020. The California based company also had to recall the Karma due to failing battery packs. And a few months ago it was reported the Karma offers worse fuel economy ratings than stated.