• Sign in to follow this  

    Fisker: Can Someone Loan Us $150 Million?


    William Maley

    Staff Writer - CheersandGears.com

    August 16, 2012

    Fisker is looking to raise another $150 million to help keep the company afloat.

    "We need money on our balance sheet" to fund operating expenses. "And we need money to fund the development of the next car," said Ray Lane, a Fisker director and a managing partner at venture firm Kleiner Perkins Caufield & Byers to Reuters."We're raising some of that money now, and some later."

    The reason for the extra $150 million? Earlier this year, Fisker's request for $264.5 million in government was denied by U.S. Department of Energy. Couple that with development costs of the new Atlantic and production costs of the Karma and easy to see why they're asking for money.

    Source: Reuters

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.



      Report Article
    Sign in to follow this  


    User Feedback



    Recommended Comments

    I miss the days when I could just read and discuss cars without having to read about the fricking government this, and Obama that.

    I know Fisker was uber ambitious, but considering the obstacles they've faced, they're really not doing as poorly as the so-called press would have you believe. I wish them well.

    Share this comment


    Link to comment
    Share on other sites

    Toyota spent approx. 1 billion to fix the pedals, up to 2 billion loss if you include "future product damage' according to something I read at Forbes...so in the 'grand scheme of things' 150 mil. doesn't sound like that much (scary, I know - ) BUT, it's the 'help keep the company afloat' part that gets me.

    The economy sucks for jobs - people can't find work - people have lost their homes - so, right now, people are tired of hearing all the huge dollar amounts & carefree spending practices.

    I do hope they can find enough rich people to make their company profitable, because that is what it will take.

    Share this comment


    Link to comment
    Share on other sites

    I hope they can stay afloat...the Karma is a thing of beauty.

    I agree....it is Sweet!

    The Atlantic would be an awesome entry to compete with upper 3-series and lower 5-series.

    And BMW needs the competition, IMHO they are loosing their edge....

    • Upvote 1
    • Downvote 1

    Share this comment


    Link to comment
    Share on other sites

    uh... a good chunk $150 million goes to worker (both blue and white collar) salaries....

    how much for the new CEO?

    I suppose some of the 150M is needed for the fire truck to put out fires.

    Edited by regfootball
    • Upvote 1
    • Downvote 2

    Share this comment


    Link to comment
    Share on other sites

    So you can give a promising American company 150 million dollars which is a drop in the bucket.

    Or you can let them get bought out/funded by China, taking your intellectual capital and engineering expertise along with local jobs back across the Pacific.

    Your choice, America.

    Durr hurr hurr! Herpity derpity derp!

    Nevermind, America's made its mind up.

    • Upvote 5
    • Downvote 1

    Share this comment


    Link to comment
    Share on other sites

    I'll say it again, $150m is a rounding error for most things automotive and governmental.

    In fact, the value of GM stock that the U.S. Government owns increased $1.6b over the past 5 days. So Fisker is asking for less than 1/10th of just this week's increase in government owned GM stock value.

    • Upvote 3

    Share this comment


    Link to comment
    Share on other sites

    If I had money, I would invest in Fisker and take the management out. I think the coach building exercise does not help to build cars. Also I would fix the PR malaise.

    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites

    I miss the days when I could just read and discuss cars without having to read about the fricking government this, and Obama that.

    are you commenting on my post, or the OP?

    isn't gov intervention GREAT?! i mean, chry co wouldn't "exist" because of the 80's, and now GM wouldn't "exist" cause of a few years ago, the automotive world would be pushed back to the days of no crash testing, parts would fall of cars willy nilly, Leaded gasoline would foul our air, water, and food.... ../s

    Share this comment


    Link to comment
    Share on other sites

    Loki, let's go racing bud...

    Rallycross is like autocross, only on dirt. Since you obviously believe that the government should fund nothing.....your Monte Carlo should be set up perfectly to run in a dirt field and nowhere else. After all, driving on a government funded interstate with that car would be hypocritical....

    So let's let em rip...when the green flag drops, the bull crap stops....

    Share this comment


    Link to comment
    Share on other sites

    Horse, it's not really the funding part, it's how they get the money, and if they have the authority to do that.

    if the feds had the authority to build the interstate, why didn't that happen during the depression instead of after ww2? if interstates are such a good idea for gov to build, why did the first part of what became the autobahn get built by private funding?

    what's the car that was on top gear that they replaced w/ a BMW when it's supposed to run on a dirt road inside of an animal race track, and the driver gets beat to hell, because of how it's designed to drive on pavement.

    but you're dragging us away from talking about if fisker can/should get $150M to continue their venture in producing sexy, expensive, niche cars.................... to extend our reliance on ... what, mostly coal by % of electricity produced nation wide currently

    • Downvote 4

    Share this comment


    Link to comment
    Share on other sites

    Each iteration of these new tech cars brings the price down a notch. The Atlantic is $30k less expensive than the Karma. We gave how many billion to the banks for them to survive? I think we can spare $150 million for a innovative, US Technology company to make payroll while they get on their feet.

    They've committed to building cars here, there are certainly worse investments to be made with the money.

    • Upvote 3
    • Downvote 1

    Share this comment


    Link to comment
    Share on other sites

    Each iteration of these new tech cars brings the price down a notch. The Atlantic is $30k less expensive than the Karma. We gave how many billion to the banks for them to survive? I think we can spare $150 million for a innovative, US Technology company to make payroll while they get on their feet.

    They've committed to building cars here, there are certainly worse investments to be made with the money.

    Only if you think the gov is supposed to be an investor, ....and where is that clause for that power in the Law? general welfare doesn't cover it cause it's not in the powers of any branch. the preamble only provides direction, not any powers.

    Share this comment


    Link to comment
    Share on other sites



    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

      Only 75 emoticons maximum are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.