Fisker may not build the Atlantic in Delaware

@CNNMoney April 4, 2012: 2:17 PM ET

NEW YORK (CNNMoney) -- Fisker automotive executives said Wednesday the company is open to building its new Atlantic electric car someplace besides the former General Motors factory in Delaware where they originally planned the car's assembly.

While they say they are still committed to the former GM plant, Fisker spokesman Russell Datz told CNNMoney that the company is flexible enough to make the car elsewhere, should a better offer materialize.

Company chairman Henrik Fisker told CNNMoney on Tuesday that the automaker has secured about $400 million in private equity financing.

Prior to Tuesday's announcement, Fisker had been waiting on funding from a $529 million U.S. government loan so it could begin retooling the Delaware factory. The plant used to make the Pontiac Solstice, Saturn Sky and Opel GT convertibles for GM (GM, Fortune 500).

Fisker has already received $193 million of the government money and recently began selling its luxury, $103,000 plug-in "range extended" electric car called the Karma.

But the rest of the money has been held up due to what Fisker says were some missed production targets with the Karma.

The Karma is assembled in Finland.

Vice President Joe Biden, Delaware Gov. Jack Markell and Fisker CEO Henrik Fisker were together in 2009 to announce plans for the Delaware production facility.

At the time, union workers were promised the chance to fill many of the 2,000 factory jobs producing the plug-in electric sedan.

Besides the money issues, Fisker has experienced other problems of late.

They include a battery recall and some less-than-positive reviews of the Karma. Critics say the car does not perform as well as it should to justify its price.

The DOE has also come under intense scrutiny for its loan program in light of Solyndra, the failed solar panel maker that got a $535 million government backed loan.

CNNMoney's Peter Valdes-Dapena contributed to this report. To top of page

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