California hybrid startup Fisker says that the introduction of its second production model has been pushed back two years to either late 2014 or early 2015.
Fisker is attempting to raise the capital necessary to complete the Atlantic's planned launch. The company says that about 90 percent of the necessary parts and components the smaller car uses have been engineered, but it lacks the money to finish putting it into production.
While the sinewy Karma might be getting all the headlines right now, Fisker's planned Atlantic midsize extended-range hybrid holds the key to the automaker's success because of its sales volume projections.
Fisker's CEO Tony Posawatz painted a less-than-rosy picture for the automaker's finances if the Atlantic project doesn't get off the ground.
"The Atlantic is really the volume car that begins to build growth," he told reporters on a conference call. "It creates a business model that is one where we can really generate cash in the future."
Fisker has been partially funded by the United States Department of Energy's $529 million clean energy loan. About two-thirds of that loan was allocated for the Atlantic, which is set to be built at a former General Motors plant in Delaware. However, that loan was frozen this year after Fisker delayed the Karma's launch. Without the DOE loan, Fisker is rumored to be looking at assembly plants outside of the U.S.
The Atlantic, which debuted earlier this year at a private event outside of the New York International Auto Show, looks like the larger Atlantic but boasts a much lower $55,000 targeted price tag.
Photos by Mark Elias.