The man who helped turn a radical idea into the Chevrolet Volt will become the new chief executive of Fisker Automotive, the struggling California start-up hoping to make a go out of selling its own plug-in hybrid vehicles.
Tony Posawatz’s move to Fisker Automotive comes barely a month after he retired as chief of General Motors’ electric vehicle program. He replaces Tom LaSorda, the one-time Chrysler chief executive, who had spent less than a year as Fisker’s CEO.
The 52-year-old Posawatz brings to Fisker plenty of know-how and a solid reputation after 25 years with GM. But he lands at a company that is struggling to come up with the cash it needs to launch its second and perhaps most critical product line, the Atlantic. Complicating matters, Fisker is facing mounting concerns after a second of its original Karma models unexpectedly caught fire last week.