Browsing the "A123 systems" Tag

How Fisker Burned Through $1.3 Billion

April 19th, 2013 | by Christopher DeMorro

With Fisker Automotive on the brink of bankruptcy, there are those of us left wondering how this small niche automaker managed to spend $1.3 billion of public and private investments in just a few short years. A new report lays out in detail how Fisker Automotive blew through a billion dollars, while developing and delivering just over 2,000 vehicles, becoming possibly the biggest venture capital blunder in history

Fiskers Claims Against A123 Systems Cut By 89%

April 10th, 2013 | by Nicholas Brown

Fisker Automotive made claims of $140 million against A123 Systems (now called B456 Systems. They moved onto the next letter in the alphabet and used the three numbers after 123) because of the rejection of its supply agreement and alleged breach of warranty obligations. The claims were $91.2 million for damages caused by rejection of its supply agreement, and $48.7 million for a breach of warranty obligations. But most of these claims were rejected

Fisker Walked Out Over Funding, Operating Budget

March 20th, 2013 | by Christopher DeMorro

Speculation over Henrik Fisker’s sudden departure from the company bearing his name has centered around the plan to court Chinese investors. But a new report suggests that the differences between Fisker and CEO Tony Posawatz went much deeper than that, with the two pitching very different visions of the green car company’s future

Fisker May Sell 85% Stake To Chinese Car Company

February 18th, 2013 | by Christopher DeMorro

2012 was not a good year for Fisker Automotive, and the beleaguered green automaker may turn to Red China for salvation. After shopping around for some Sino investors, Fisker may have found what its looking for in Chinese automaker Dongfeng. Dongfeng may purchase an 85% stake in Fisker for around $350 million, rumor has it

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