• 10

Fisker Automotive hopes to eventually make use of a former General Motors manufacturing plant in Wilmington, DE to produce its vehicles. However, the startup automaker apparently needs only a third of the factory's total floor space, which will leave potential capacity for around annual 200,000 units untouched. That is, unless Fisker offers the unused portion to other automakers.

That's exactly what Fisker wants to do, Bernhard Koehler, Fisker's chief operating officer, told Automotive News at the 2011 Geneva Motor Show. In a weird twist, Fisker will also examine the possibility of building vehicles at the Delaware plant for contract manufacturer Valmet Automotive. This would only occur, Koehler said, if "Valmet's customers need more capacity in the United States." The weird twist part is that, last we heard, Valmet is supposed to start production of the $95,900 Fisker Karma plug-in hybrid on March 21st.

[Source: Automotive News – sub. req.]


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 10 Comments
      emailbjw
      • 4 Years Ago
      Fisker raised over $115 in private funding. It will all evaporate in another green energy scam.
      • 4 Years Ago
      Ahh, another Fisker blog. And yet again all the same "Volt == Vaporware" clamoring from all the usual suspects. Yet they are all completely incapable of actually commenting on the content of the actual blog.

      So I will.

      The issue for Fisker is that they have at least 2 more entire LINES of cars they may need to build at this plant. They also have additional models they are planning to build based upon their Karma line. They will need extra floorspace for all of this in the future, but for now they only need a fraction of that floorspace.

      But the awesome deal they got on the floorspace was a one-time chance that they had to jump on. They got in while the economy was in free-fall, and now they are trying to capitalize on their extra space.

      There isn't anything odd about any of this, it just looks like good business to me. Fisker has an asset they aren't currently using, and they are looking to profit off that asset until they do need it. Valmet is a good match, because they specialize in low volume short production runs. Exactly the type of business partner Fisker needs in this circumstance.

      OK. That's the end of my actual contribution to the actual news at hand. Back to the mindless blathering of the usual suspects that ABG prefers to pander to, instead of those of us who actually want to have intellectual discussions about the actual news.
      • 4 Years Ago
      This seems to me that Fisker is trying to find a way to get out of that building just to keep from having to deal with the UAW. Just like Tesla when they went after the Fremont NUMMI plant, they realized that the UAW came attached to the property. Good luck with that.
      • 4 Years Ago
      I think the main thing is it's going to be years before Fisker builds the Nina for which the plant was bought in a bid for DOE funds under the ATVM. I wonder how the DOE will react if the plant that we paid for is used for produce cars that are not considered green.
        • 4 Years Ago
        or American
        • 4 Years Ago
        My understanding is Fisker only gets pieces of the $359 million in support of Project NINA as it incurs expenses for that project, they *don't* have all the $528M loan in the bank. And if they're late and do other things they start running up against terms and covenants in the loan agreement.

        DoE used to have the actual ATVM loan documents for Fisker and Tesla online, fascinating stuff that to me shows them as thoughtful and pretty tough loan agreements that designed to encourage advanced vehicle *manufacturing* in the USA, just as the name says.
        • 4 Years Ago
        skierpage

        "thoughtful loan documents"
        What about collateral ?
        What collateral did Frisker or Tesla put up. What is left when a company vaporizes? A bunch of inventory (parts) that are worth less than 10 cents on the dollar, especially after all the legal fees and auction fees. That is; if there is any inventory.

        DOE should swoop in right now and tell them your real estate is required as collateral for any future dispursements.
        like in Tesla's billion dollar Fremont property that they got for $42M from Toyota.
        what a deal!
        Sounds like reasonable collateral for a half-a-Billion dollar loan.
      • 4 Years Ago
      Frisker Karma is a scam. When all the investors and government grants have been suck in, Frisker will find an excuse to dissolve the company. Be warned.
        • 4 Years Ago
        Do you have ANY clue how the govt grants are handed out? No? So why don't you STFU, mo...on.
        • 4 Years Ago
        SCAM ? No, I think that Frisker had the best of intentions but was very naive about what it takes to build a world-class luxury car, and then use hi-tech stuff that hasn't been proven in on-road applications, and is very expensive stuff.

        He thinks he can sell a car that Ferrari, Audi, Jaguar, Aston Martin, Porsche, etc.
        would retail for $250k to $500k, but thinks he can do it for under a $100k.
        Wishful thinking.

        Then, volumes are very optimistic - especially from an unknown company, with questionable and unproven technology. And, we're not even sure this little company can even put a reliable car on the road. Tell me about years of road & track testing.

        Add to that B-jobs of AlGore and VP Biden, union pandering and lobbying.
        Our government should have their butts kicked for ever investing in this highly speculative venture with deficit funds. DOE stupidity or just politics as usual?

        Raise your hand if you are one of the three people that reads this site that will be buying a $100+K Frisker. No Henrik, you don't count.

        It's nothing personal. If our government hadn't gotten involved, I wouldn't give a shiit what private markets and investors do with their money. And, no, they shouldn't have invested in Tesla either. See I'm fair.