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?
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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.
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.
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.
Fisker is in trouble. Anybody who has been following the green automaker’s saga can tell you that things don’t look good for a company that isn’t making any cars, lost its CEO, and cannot secure even Chinese investors. But a Jalopnik writer made a very keen observation that the salvation of Fisker might be a lot simpler if they dropped the whole hybrid act.
Sometimes it feels like we are picking on Fisker, because for the past year it has been one bad, sad news story after another. But it is hard to deny that Fisker faces a grim outlook unless they can get a much-needed injection of cash. This means the U.S. based automaker, which builds and ships cars over from Finland, has gone to China in search of funding…and they may have found it.
2012 was not a good year for green car maker Fisker, makers of the Fisker Karma, and the news isn’t getting any better. A new report reveals that Fisker hasn’t built a car in six months, which is troubling in and of itself. Even worse though, Fisker claims this is no big deal, because they have a “sufficient supply” of Karma hybrids on hand. So why is that bad?