Former Chrysler CEO Tom LaSorda is back in the saddle, albeit one with a relatively silent source of power, as the new chief executive of battery-car start-up Fisker Automotive.
LaSorda, who had been serving as advisor and vice chairman of the California-based company will step into day-to-day management replacing founder Henrik Fisker as CEO. The Danish-born Fisker will continue to serve as executive chairman and as the company’s design chief.
The 57-year-old LaSorda will have plenty of challenges ahead of him. Fisker Automotive is months behind with the launch of its first product, the plug-in Karma sports car, and it is struggling to renegotiate $528 million in federal loans needed to complete the development and production launch of the maker’s next product, a more mainstream plug-in model codenamed Project Nina.