Mark Seeger, the CEO of Mission, filed for Chapter 7 bankruptcy on October 15, 2015. Neither Mission Electric nor Mission Motorcycles remains in business.
Browsing the "Bankruptcy" Tag
Saab’s owner, National Electric Vehicle Sweden (or NEVS) is facing huge bills, causing one of its debtors to file a petition for bankruptcy.
With support from Fisker’s new Chinese owners, Bob Lutz will reanimate the Karma’s electric corpse with 6.2 liters and 460 horsepower of Corvette engine.
VL Automotive is buying any Fisker they can find. VL started out buying Fisker Sunsets and replacing the innards with a Chevrolet Corvette V-8. Since Fisker stopped production in 2012, the number of Sunsets is limited and VL has been having trouble finding enough new or used Sunsets to transform.
Just two years ago, Shai Agassi’s innovative battery-swapping electric automaker/infrastructure builder Project Better Place was valued at around $2 billion. But this past May the company filed for bankruptcy as sales for their special Renault-built, battery-swappable EVs failed to materialize. This week an Israeli businessman bought Project Better Place for just $450,000, a sad final […]
It’s been more than 18 months since Fisker Automotive last built a car, and the vultures have been circling for over a year now, waiting for the inevitable to happen. Last week Fisker finally filed for bankruptcy, and was sold for a paltry $25 million to a mysterious investment group that hasn’t revealed what its […]
Is there a sustainable business model for public charging points? The answer is no, not really, and if anybody should be providing customers charging points, it’s the automakers selling the EVs.
After a suspension of payments from the Federal Government, electric vehicle charging system manufacturer Ecotality was forced to file for Chapter 11 bankruptcy protection this Monday. The move is the company’s first step towards dissolution and the sale of its assets at auction. This news follows August’s revelation that the CHAdeMO-type charger, the type used […]
Once valued at around $1.4 billion, Fisker Automotive is a husk of its former self, worth just a small fraction of its peak value. With no money left to build cars, Fisker is trying to sell itself to the highest bidder, and so far only Bob Lutz and the Chinese have shown any interest. But the latest suitor comes from Germany, and may be Fisker’s best hope.
It’s been awhile since we heard from Fisker Automotive, and with good reason. While the green automakers has managed to (barely) stave off bankruptcy, execs have been scrambling to find a buyer for the builder of the Karma hybrid. Once again Fisker has looked to China for salvation, and has reportedly found a suitor in BAIC.
Saved! Israeli businessman Yosef Abramowitz (owner of Arava Power, a solar energy provider in the region) seems set to buy Project Better Place’s Israeli assets and bring them under his Sunrise SL corporate umbrella.
There’s significant demand for the Bob Lutz-backed Fisker Karma V8 conversions, especially now that Fisker, the company, doesn’t look particularly suited to provide parts and/or technical support for their existing hybrid powertrains. So his interest in Fisker getting bailed out makes sense. That said, it’s specifically because of Lutz’ involvement that I hope the whole enterprise crashes and burns.
2012 has not been a good year for Fisker, and the bad news just keeps coming. With the bankruptcy of its main battery supplier, A123 Systems, production of the Fisker Karma plug-in hybrid has been halted. Not good.
The recent economic turmoil has had plenty of victims, among them a number of cleantech companies like Solyndra. These greentech failings certainly have short-term consequences that include loss of employment, but many business commentators have noticed a disturbing trend, especially in the EV battery market.
Is America really surrendering its lead on electric cars just a few short years into this experiment? It is starting to look that way for five reasons I outline below.
Who would ever imagine that we would reach a point in politics where one party is openly rooting for the failure of American companies? Yet that is exactly what the GOP is doing these days, cheering loudly whenever a green energy company files for bankruptcy and making a point to tie it all back to […]
Many a great idea has gone unheralded, buried in the annals of history as nothing more than a footnote to greatness. Some ideas are just ahead of their time, like Chrysler’s “aero” cars. Others suffered inexplicable setbacks, like the fire that destroyed Nikolai Tesla’s life’s work. And then there are the ideas that seemed silly […]