The dust has settled, and pending approval by the courts, China’s Wanxiang will become the owner of Fisker Automotive for $149 million.
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While the Fisker Karma may get another chance at production thanks to a last minute bid from Wanxiang, the Fisker name and logo may not come with the sale.
After a number of twists and turns that saw Fisker’s founders fighting for control of the company’s possible future against such industry visionaries as Bob “let’s just put a 60-year-old V8 in it!” Lutz, it appears that Hong Kong Billionaire Richard Li is the likely winner of a government loan owed by Fisker Automotive. That […]
In a bid to get back the some $168 million Fisker still owes the Feds, the rights to the Fisker name and technology will be put up for bid this October. Is Fisker’s fate sealed?
The long, drawn-out death of Fisker has been carried out in slow motion the past few months as the automaker sought one last lifeline. So far though nobody has stepped up to save Fisker, and the vultures are circling. Germany’s Fritz Nol has put in a bid for Fisker, and government handlers are said to be considering an auction to try and recoup as much money as possible.
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.
The not-quite-bankrupt Fisker Automotive is struggling to stay afloat, and affluent buyers of the beautiful plug-in hybrid know it. While hundreds of lining up for a supercharged V8 conversion, other owners are divesting themselves of their Fiskers on the used car market, taking a huge financial hit in the process.
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.
The news surrounding green automaker Fisker Automotive has been nothing but negative the past few weeks. But let’s take a step back and admire the Fisker Karma for what it is; a gorgeous, if flawed car with limitless customization potential. Tuning shop Ultimate Auto went to town on a Fisker Karma, and the result only improves on this great-looking ride.
Know how on Friday Fisker fired 75% of its workforce without any prior warning and no severance package? Turns out you can’t do that in the state of California. Fisker Automotive now faces a Federal lawsuit seeking 60 days wages for all the affected employees.
Fisker Automotive today announced that it was firing 75% of its workforce, leaving a skeleton crew of 53 senior managers and executives to save the it. And no, there were no severance packages.