2011 Fisker Karma

Fisker releases business update showing the company isn't in death throes

To hear some pundits say it, Fisker Automotive is in death throes because the Dept of Energy froze the loans, and the company laid off some workers, instead the company's inaugural business update paints the picture of a company successfully selling the Karma and raising investment dollars to launch production of the Atlantic.

Fisker Automotive issued a "business update" today saying the company's business and funding is solid, with over $1 billion in equity investments, and sales of over 1000 Karma's. The news release doesn't say it, but this business update seems targeted at answering naysayers criticisms over the last couple months following the loss of the Dept of Energy loan and subsequent layoff of the workers preparing the factory for manufacturing the Atlantic.

The company has generated over $100 million in revenue in the last four months. Additionally the company has delivered over 1,000 Fisker Karma's since the December 2011 launch of that vehicle. Demand is strong for the Karma, with brisk sales in the Netherlands and a distribution agreement in the Middle East.

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