(Photo: The Fisker Karma at the Detroit Auto Show)

Fisker Automotive has weathered its fair share of attention, with reports that it is cash-strapped and that it has hired an investment bank–Evercore Partners Inc.–to help identify “strategic partners”.  That means, investors or even buyers.  Evercore, according to an article on WSJ.com, advised GM when that company filed for bankruptcy, though Fisker CEO Tony Posawatz told the Journal Evercore is there to help them find new sources of funding.

Fisker has received $192M in federal funding through a Department of Energy loan, as part of the Obama administration’s now somewhat infamous attempts to promote alternative energy technology.  The original amount of the loan was supposed to be $529M, but the remainder of the sum has been “put on hold”, according to coverage by Mike Ramsey and Sharon Terlep in the aforementioned WSJ.com blog.

Fisker has closed dealerships, laid off workers and renegotiated with suppliers and manufacturers and supposedly considered filing for bankruptcy protection in July.

Mr. Posawatz told the WSJ that Fisker is especially seeking partners in Europe and China, as interest in alternative energy products is greater in those regions.

Given all this, it is encouraging that some new funds are flowing into the company, but the future is by no means secure.

Fisker’s difficulty finding partners in part stems from a lack of interest in the company among major auto manufacturers. As Ramsey and Terlep report, already produce their own battery-powered or hybrid vehicles.

So, in contrast to the days of GM’s EV4, the troubles experienced by small green auto companies may not result from lack of demand, from the fact that large corporate players have moved into the space.

More on the other companies Dallas Kachan discusses in his State of the Union coming soon…