Former Chrysler president Tom LaSorda has been appointed CEO and vice chairman of Fisker Automotive with full responsibility for the running of the company’s day to day operations.
Henrik Fisker, who co-founded the company in 2007, will become executive chairman and will focus on building the brand in global markets as well as the styling and design of future models.
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Fisker said: “We have created a new automotive company, launched a new electric vehicle extended range technology and brought the Karma to market successfully in a remarkably short timeframe.
LaSorda, with 30 years in the industry behind him, joined the company as vice chairman and executive advisor to the management team in December. He will assume full CEO responsibilities.
He said: ““As part of our future strategy, we will be seeking strong partnerships and alliances as Fisker continues to grow as a brand.”
With the re-organisation, chairman Ray Lane will assume a lead director role.
LaSorda told the website DelawareFirst plans to build the new hybrid electric car in the former General Motors Wilmington assembly plant were on track despite the absence of a planned loan from the US Department of Energy.
“We are getting the programme ready,” he said. “We are in very, very good shape to continue to develop the vehicle.”
He said Fisker was continuing to seek private funding to develop the Wilmington programme, known as Project Nina, but was also hoping to revive a US$529m federal government loan withdrawn last year because the company missed deadlines on production, sales and environmental standards that were conditions for the loan.
“We are going to look for alternative sources of funding including the DOE,” LaSorda said as his appointment as CEO was announced.
LaSorda declined to predict when Nina production might start. “We really can’t say when the production will start,” he said. “That will depend on the funding.”
The report noted Project Nina was due to begin producing prototypes late this year and to start selling to the public in mid-2013. The original schedule planned full production by 2014, creating 1,500 jobs. The car is expected to sell for $50,000-$60,000.
Fisker has received no money from the DOE since last May and is generating revenue from the Karma, of which about 2,000 have been made and 840 sold in North America, LaSorda said. “We are generating revenue for this company,” he added.
Henik Fisker said the DOE funding had become a “political football” in an election year after criticism of the Obama administration for lending money to the now-bankrupt solar-panel maker Solyndra.
Alan Levin, director of the Delaware Economic Development Office, welcomed Fisker’s management shakeup, telling DelawareFirst that it allows Henrik Fisker to focus on his role as visionary and for LaSorda to contribute his extensive experience of auto industry management.
After having helped secure federal bailout funds for Chrysler in 2009, the new chief executive may also be in a good position to revive the flow of funds from the DOE, Levin said.
He described negotiations over the DOE loan as “still going back and forth” and said production of the Nina would not begin until public or private funds are available. It would take six months from the release of funds until the first test vehicles appear, Levin said.
“There isn’t going to be Nina production until they secure the DOE or other suitable funding from other sources,” he said.
Fisker has a proven product and deserves government support for its startup operation, he said. “They were moving forward, and to stop it now would be foolish.”
Asked whether the company would consider an alliance with a larger automaker, LaSorda said he would consider any approach from another company but is not actively seeking partners.
“We certainly would be open to that but we certainly are not out there in the marketplace looking for that,” he said.
LaSorda, who headed Chrysler from 2005 to 2007, said he had accepted the offer to come out of retirement and head Fisker after spending two months examining the company’s books and plans, DelawareFirst said.
“I would never have taken this job if I didn’t think the future of this company was bright,” he added.
