Fisker’s funding issues with the Department of Energy have caused there to be some uncertainty over the future of the Atlantic. Formerly known by the Project NINA moniker, the Atlantic was introduced at the New York International Auto Show in April. With a commitment to government investment, Fisker secured a former General Motors plant in Wilmington, Delaware as a production facility.
Fisker has remained confident about the future of the Atlantic, as well as its ability to raise funds from private equity. So far, Fisker has raised nearly $1 billion. With or without DOE funding, we’d imagine these investors are willing to put in the funds needed to see the Atlantic to production. Like the Model S over at arch rival Tesla, the Atlantic is Fisker’s make-or-break product. New documents have been leaked that shed a bit more light on how the delay in funding has impacted the Atlantic’s arrival date.
InsideEVs says the Atlantic is now on track for full production to begin in mid-2014. The first prototypes are slated to arrive mid-next year. That is pretty disappointing given Fisker was bandying about late this year as a production start date. This a pretty significant delay, and it leaves Fisker with just the Karma for at least two years. Discussions with the DOE are said to be ongoing.
Interesting is that Fisker appears to be all-in on the Wilmington, Delaware plant. There is no contingency plans for production being undertaken elsewhere, such as with Valmet in Finland. With DOE funding unlikely, most wrote off the plant in Delaware as a production site. According to these leaked documents, though, Fisker hasn’t. As for the Atlantic itself, some new light has been shed on the car. It will make about 300 horsepower and be powered by a turbo four-cylinder sourced from BMW (which we already knew).
Bigger news though is that the price tag will be in the upper range of what was originally thought. Atlantic will start at around $50,000-60,000 – squarely in Model S territory. Fisker lists the Audi S4/A6, BMW 3- and 5-Series and the Mercedes C- and E-Class as chief competitors. The delay is disappointing. If Fisker can get its act together though, we do think the car has a good potential for success. It probably could sell on looks alone.