Fisker Automotive Might Not Need DOE Money
In early February, news broke of Fisker's decision to lay off 66 US workers in an attempt to conserve cash as it sought a way to renegotiate the terms of its Department of Energy (DOE) loans. This move led to numerous news outlets claiming that Fisker would soon fail.
But in a recent interview, Henrik Fisker, co-founder and chief executive officer of Fisker Automotive, claimed the future of the startup automaker is bright and that Fisker is not even close to circling the drain. According to Fisker, the automaker may never need a single penny more of the DOE's money. Fisker says that discussions regarding alternative financing are ongoing and sees the current cash flow issue as nothing more than a slight snag or hiccup.
"We are in discussions for alternative financing," said Fisker. "We don't want our future 100 percent reliant on DOE funding. It's been great to have. We just want to be sure we have capital without DOE."
The startup automaker has reportedly completed development of its mid-sized Project Nina plug-in and even has a running prototype. Next up for Fisker is to order tooling for its production facility in Delaware. "Nina is completely signed off, and it's 95 percent sourced," said Fisker. "It's ready to build."
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