Fisker Automotive, the hybrid sports-car startup backed by venture investors and the U.S. government, aims to start production of its second model in late 2014 or 2015, the automaker said this week, at least two years later than initially planned.
The Atlantic, a mid-size gasoline-electric sedan, is slated to enter pre-production in 2014, according to slides prepared by Fisker for an investor presentation.
"The Atlantic is really the volume car that begins to build growth," chief executive Tony Posawatz said 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."
The presentation was the first time Fisker disclosed a production timetable for the Atlantic, whose target base price is $55,000 US. The car will underpin Fisker's future models, which may include sport-utility vehicles and crossovers.
Fisker also may "engage with some discussions with partners to use this platform, use this technology, which very few people have," Posawatz added.
The Atlantic is essential for Fisker to regain its credibility after delays and quality issues hurt the launch of its $100,000plus Karma flagship sedan.
Fisker was also dealt a blow in February when the U.S. Department of Energy froze the bulk of its $529-million loan to Fisker due to delays in launching the Karma.
Production of the Atlantic had been slated for a former General Motors plant in Wilmington, Delaware, which Fisker bought for about $20 million in 2010.
