Wednesday, June 30, 2010

Fisker Eyeing IPO, Says Report

Irvine-based electric automobile firm Fisker Automotive is eyeing a possible IPO, now that competitor Tesla Motors, the electric auto firm headed by Elon Musk, has been so warmly received in the public markets, according to a report from The News Journal, a Wilmington, Delaware newspaper. Quoting Ray Lane, the managing partner of Fisker investor Kleiner Perkins Caufield & Byers, the paper said that Fisker is planning to hit the public market once "the Karma is on the road and we have visibility into the revenue plan." Tesla debuted to huge fanfare Tuesday on the NASDAQ, opening at $17.00 and closing on its second day of trading at $23.83, after going as high as $30.42. Tesla has drawn a huge following from investors, despite a limited number of cars sold, a long road to profitability, and a question mark on when it will deliver its mass market, Model S luxury sedan.