UpdatePublished on January 31st, 2013 | By: email@example.com
The short version of the story is that A123 is in something of a scramble mode thanks to the problems with Fisker Automotive’s DOE loan guarantee.
The story first came to light on Feb. 9 when, according to a Forbes report, Wunderlich Securities analyst Theodore O’Neill reduced his rating of A123 stock in reaction to a DOE loan guarantee to Fisker being put in hiatus.
So, what’s up with Fisker Automotive?
Fisker is a California-based start-up company that makes luxury hybrid cars and was started in 2007 by Henrik Fisker and Bernhard Koehler. In 2009 it received a $528 loan guarantee from the DOE, of which it has received $193 million so far, according to an online Reuters article, to support development of its first model, a luxury vehicle dubbed Karma. Also in the works is a sedan called Nina.
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