Auto maker Fisker is suing an insurance company after a shipment of its Karma Luxury sedans fell victim to Superstorm Sandy.
Reuters reported that Fisker sued XL Group after it was denied insurance coverage. More than 300 cars with price tags of $100,000 apiece were submerged at Port Newark while awaiting shipment to points in the United States.
The Fisker Karma is assembled in Finland. That turned into an election issue when foes of the Fisker federal loan package claimed that money was being used to assemble the vehicle in Finland.
Fisker and federal officials have denied that claim.
Plans to assemble a mid-sized Fisker Atlantic at the former GM Boxwood Plant were put on hold when the federal loan was suspended. Fisker had hinted the Karma might one day be assembled in Wilmington at a future date.
Fisker earlier indicated it is seeking a partner after receiving a number of setbacks in 2012 that included the suspension of a federal loan, reports of quality control issues and the bankruptcy of its battery supplier A123 Systems. Fisker is headquartered in California.
