Fisker needs $150 million to build Atlantic
Posawatz knows what it takes to get an electric car to market, but Fisker is some $150 million short of cash it needs before it launches the Atlantic, according to the report. One of Fisker's directors told the news organization that bolstering the balance sheet is necessary not only to cover operating expenses, but also to fund more product development.
Fisker's financial shortfall is the effect of losing over half its $529 million loan from the Department of Energy, according to the report. The company says it plans to raise the additional funds through more private financing.
- Great used cars for less than $10,000
- Owners say these cars aren't very good deals
- New Car Buying Guides
- Cheapest new automobiles in America
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models