California-based Fisker Automotive has halted production of its plug-in hybrid Karma luxury sedan after battery provider A123 filed for Chapter 11 bankruptcy last month. The automaker says it is suspending production until a buyer is found for the failed battery manufacturer.
The news, first reported by Bloomberg yesterday, is yet another setback to the fledgling automaker, which lost 300 European-bound Karmas during Hurricane Sandy and continues to delay production of its mass-market mid-size Atlantic sedan
Fisker will be waiting to see what happens when A123 is auctioned off on Dec. 6. Top suitors include U.S.-based JCI Industries and the Chinese Wangxing Group.
"Because we have no batteries, there?s no production right now. Inventory is starting to get a little low," Fisker CEO Tony Posawatz told Bloomberg. "We?d like to restart production as quickly as possible. We should know the outcome of the auction by the middle of December."
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