Fisker Hires Evercore to Find Strategic Partners image

Fisker announced it hired investment bank Evercore Partners to look for investors and partners.

Fisker spokesman Roger Ormisher denied the sale of the automaker is not even taken into consideration and that the automaker hired Evercore to find potential strategic partners and investors to be able to cut costs and raise money to manufacture its second model, the Atlantic.

“It’s not true that Fisker has any kind of wind-down sale or bankruptcy plan,” Roger Ormisher told Reuters. “We are focused on the strategic alliance or partnership to move this forward.”

Posawatz, who is Fisker’s third CEO so far this year, plans to introduce the Atlantic model on the market as soon as possible and revive the automaker’s image, affected by several seatbacks connected with the launch of the $100,000-plus Karma. The delay in bringing the Karma to showrooms cost the automaker lose the unused portion of its $529 million loan offered by the U.S. Department of Energy.

“The Atlantic is really the volume car that begins to build growth,” said Tony Posawatz, CEO of Fisker, during a conference call with investors and analysts. “It creates a business model that is one where we can really generate cash in the future.”