US electric car company Fisker announces strong revenues for first portion of 2012 and plots expansion in the Middle East

Electric vehicle manufacturer Fisker says its revenues have exceeded $100million in the first four months of this year.

The company, which began deliveries of its Fisker Karma four-door electric saloon in December 2011, also revealed that it has so far dispatched 1000 vehicles to customers in the US and Europe.

Fisker released details of its performance in a business update. Significantly, the company claims it has shored up its finances, raising $174m of private equity investment since the start of the year to fund its expansion plans.

Those plans had been put on hold following the suspension of a $529 million loan that had been offered by the US Energy Department from a fund intended to accelerate growth of companies building alternatively powered cars.

Tom LaSorda, Fisker’s chief executive, said: “We are encouraged by solid demand for the Karma. Pending completion of investment sourcing, we are poised to press ahead with further market expansion and development of our higher volume model, the Fisker Atlantic.”

Fisker is eyeing further expansion into new territories, including the Middle East. Earlier this month, Fisker signed an exclusive agreement with the Al-Futtaim Group, an automotive distributor in the Middle East, to build Fisker’s sales presence in the United Arab Emirates, Saudi Arabia, Qatar, Oman, Bahrain, and Egypt.

Our Verdict

The Fisker Karma has stunning looks, backed up by impressive acceleration and has single-handedly made electric cars cool

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Comments
4

29 May 2012

the pro-Hydrogen mob will pour scorn on these results.  

Looks like Electric power/ Range Extender/ hybrid power goes from strength to strength.

 

Hydrogen cars just went POP

29 May 2012

Seems like it all going wel for Fisker - fabulous looking car, selling well, expansion plans etc (if they can't sell to the wealthy of the middle east countries mentioned, there's something seriously wrong.) and a seemingly secure and profitable future. Good to see a bit of glamour in the alternative powerede cars market after all the dull Toyota/Honda/GM cars etc.


Enjoying a Fabia VRs - affordable performance

29 May 2012

ordinary bloke wrote:

..... Good to see a bit of glamour in the alternative powerede cars market after all the dull Toyota/Honda/GM cars etc.

Wouldn't use the word dull but you can add the following to alternative powereded cars: Porche, BMW, Renault, Nissan, Peugot and later in the year Ford and VW.  In fact I wonder who'll be the last major manufacturer to have some sort of electric powered car.

 

Hydrogen cars just went POP

29 May 2012

I hope they can get the reliability sorted - http://news.consumerreports.org/cars/2012/03/consumer-reports-is-not-the-only-fisker-owner-to-experience-bad-karma.html and a better engine in up front, along with a bit of weight loss and it could turn into an interesting car.

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