Fisker won't restart production until A123 sale clears
Agencies: Detroit, Dec 12 2012, 10:50 IST
but denied reports that a sale of the company was under consideration.
Fisker previously said it had held discussions with potential strategic partners to cut costs and raise money to build the Atlantic.
Earlier this year, the U.S. Department of Energy froze the unused portion of its $529-million loan to Fisker, due in part to a delay in bringing the Karma to showrooms.
The DOE also said the remaining $120 million of A123's $249-million federal grant would not be transferred to the new owner.
A123 filed for Chapter 11 bankruptcy in October as demand for electric and hybrid vehicles such as the Karma has not met expectations. The battery maker also was forced to recall defective batteries used in the Karma.
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