New York: Fisker finds funding, revamps business plan and Antlantic model image

Fisker Automotive Inc., maker of plug-in luxury cars plans to build its second model outside of the United States if federal funds intended to pay for the vehicle’s production fall through, Chief Executive Tom LaSorda said during the NY Auto Show.

“If we get it, fine,” LaSorda said of the government loan. “If we don’t, we can still have a great company. We’re going to build this car with or without DOE funding.”

Fisker had been depending on Department of Energy loans to refurbish a former General Motors (GM, Fortune 500) factory in Wilmington, Del.

However, work on that plant was suspended after the Department of Energy blocked Fisker’s access to the loan money.

The U.S based automaker has unveiled its next model, the Atlantic, Tuesday night in advance of the New York Auto Show.

The sedans feature similar mustachioed front ends, the smaller Atlantic largely maintaining a scaled-down version of the Fisker design language with a few tweaks here and there. Up front is a BMW-sourced, turbocharged four-cylinder engine putting out somewhere in the neighborhood of 240 horsepower and 250 pound-feet of torque.
But the exact output is irrelevant since the engine’s gusto is only being used to top up the battery pack.

The Atlantic will be available in two- or four-wheel drive versions, Fisker said.

The car is expected to cost around $47,000 — or $40,000 after federal tax credits — but Fisker will not announce pricing details until closer to the car’s expected production date. That’d be less than half the cost of the $102,000 Karma, and potentially quite a revolution. Needless to say we can’t wait to find out.

Fisker has suffered setbacks on recent weeks, including a recall by A123 of batteries installed in Karma models to fix defects that caused vehicles to stall.