Fisker Going To Auction In October

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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Official Bid Made For Fisker As Government Mulls Auction

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.

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Detroit Electric To Start Production In Holland

The second revival of the Detroit Electric name is banking on a carbon copy of the Tesla Roadster to get the ball rolling on this new/old brand, as well cashing in on Detroit’s resurgence as a manufacturing hub. Alas, production delays and the lack of a factory deal has sent Detroit Electric to Holland to begin production. Is this Fisker 2.0?

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Government ATVM Green Loan Program Restarts

2012 was a year of political football for American automakers new and old, with Republicans and Democrats punting GM, Tesla, and Fisker back-and-forth before the presidential election. It got so bad that President Obama put a temporary hold on the Advanced Technology Vehicle Manufacturing green loan program, but that hold has been lifted and applicants are encouraged to apply once again.

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Fisker Lost $35,000 On Every Karma Sold

Why did Fisker Automotive fail? There are plenty of reasons, though newly revealed internal documents reveal the biggest reason of all. The only product Fisker sold, the Karma sedan, cost the company $35,000 more than they sold it for. Add to that lavish spending by executives and costly engineering mistakes, and you have a company that was doomed to fail from the beginning.

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Despite Failures, DOE Green Loan Program Not Such A Flop

With recent high-profile failures of government-backed alt-fuel projects including Fisker Automotive and the Vehicle Production Group, one wouldn’t be blamed for thinking the green energy loan program was a flop. But a well-written analysis of the program finds that, despite incessant criticisms, the program did better than some people would have you think.

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DOE Loan Rules Tightened After Fisker Failures

The Department of Energy’s loan program for the advancement of vehicle technology underwent some significant changes following Fisker Automotive’s financial problems. The Feds decided to tighten restrictions and hopefully mitigate wasteful spending, though that has done nothing to cull critics of the green energy loan program.

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EV Maker Coda Automotive Files For Bankruptcy

The bell has tolled for electric vehicle maker Coda Automotive, which earlier this year laid off almost all of its employees following dismal sales for their all-electric Coda Sedan. Today the EV maker filed for bankruptcy, and going forward will focus on “energy storage solutions.” In other words, Coda, as a carmaker, no longer exists.

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