DETROIT Dec 7 Fisker Automotive, maker of the
Karma plug-in hybrid car, said it hired investment bank Evercore
Partners Inc to search for partners and investors, but
the automaker denied that a sale of the company was under
Evercore, which advised General Motors Co during its
restructuring and initial public offering, was hired in the
first half of the year, Fisker spokesman Roger Ormisher said.
Fisker previously said it had held discussions with
potential strategic partners to cut costs and raise money to
build its second model, the Atlantic.
The Wall Street Journal on Friday reported the hiring of
Evercore based on an interview with Fisker Chief Executive Tony
Posawatz. The newspaper quoted the executive as saying Evercore
was hired to seek possible buyers and investors.
The report, citing unnamed sources, also said the Fisker
board had reviewed the option of seeking bankruptcy protection.
Ormisher denied plans for a possible sale and said he was
not aware of any discussions about a plan to seek bankruptcy
"It's not true that Fisker has any kind of wind-down sale or
bankruptcy plan," he told Reuters. "We are focused on the
strategic alliance or partnership to move this forward."
Posawatz, Fisker's third CEO this year, is seeking to bring
the Atlantic to market and revive Fisker's image after setbacks
this year with the launch of the $100,000-plus Karma.
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.
In October, Posawatz told reporters that Fisker would be
interested in deals similar to its partnership with GM, which
provides the engine and other components for the Karma.
Fellow green car startup Tesla Motors Inc, which
launched the Model S electric car this year, draws revenue from
its partnerships with Toyota Motor Co and Daimler AG
, which are investors in the company.