Fisker CEO Identifies Long To-Do List, as 2012 Sales Pass 1,000

By · October 02, 2012

Fisker Karma

After five weeks at the helm, Fisker Automotive chief executive officer Tony Posawatz stated the obvious: that the luxury plug-in automaker has a lengthy "to-do" list. What's on the list? Strategic partnerships, the establishment of a vehicle lease program, improving Fisker's relationship with its 80 dealerships, improving quality...

"We think we’re positioned pretty nicely, but like any company in its infancy, we still have so much more foundational work to do. The dealer and retail network is a classic example," Posawatz told reporters on Monday.

Soon Fisker will establish a retail network in the Middle East and will expand its operations to include China in early 2013. Beyond that, Fisker hopes to launch the Atlantic—a plug-in hybrid with a projected price tag of roughly $55,000. But launching the Atlantic seems to be contingent upon Fisker accessing the remaining portion of its $529 million loan from the US Department of Energy. (The current political climate casts doubt on these loans.)

On a more positive note, Posawatz said that Fisker has held discussions with "strategic partners." It's unclear if Fisker is open to acquisition bids.

All of these business dealings are occurring against of backdrop of continued quality problems at the company. Consumer Reports recently issued the Karma only 57 points out of a possible 100 in its latest road test and labeling the Karma with its dreaded "not recommended" tag. As Consumer Reports stated, "Overall, the Karma scored too low in our tests to recommend."

Despite these problems, and the long to-do list, Fisker Karma sales continue to edge forward. Posawatz stated, as if scrambling for any sign of good news, "On the retail sales front, we beat our forecasts for September," adding that Fisker sold more than 1,000 Karmas so far in 2012.

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