Fisker Automotive finally filed for Chapter 11 bankruptcy protection this week, some 18 months after building its last car. Hybrid Technology LLC, which bought the automaker’s outstanding $168 million DOE loan for $25 million in October, said that the purchase of the government loan was a first step toward restarting production of the Karma. “As… Read more »
Search Results Found For: "Karma"
2014 Porsche Panamera S E-Hybrid: Where will it fit into the market?
In a sense, every new entry into the plug-in vehicle market competes with all the others in the field – after all, there are still just a handful available nationwide. However, while the press tends to pit plug-ins against each other for juicy headlines, like “Volt vs LEAF,” there are very few direct head-to-head matchups… Read more »
German investors submit offer for Fisker
A pair of German investors has submitted a formal offer for Fisker Automotive, according to Green Car Reports. Last month, the German magazine AutoBild reported that Fritz Nol and Ingo Voigt group were interested in acquiring what remains of Fisker for $25 million. “I am proud to tell you that we just sent our detailed… Read more »
Rumors of a new Chinese suitor for Fisker
Fisker seems to be in limbo – it hasn’t declared bankruptcy, but so far its few prospective suitors have left it standing at the altar. Karma fans haven’t lost their faith, however. Lately, online discussion groups have been abuzz with hopeful rumors, and one frequent participant claims to have heard from insiders that a pleasant… Read more »
Bob Lutz and Wanxiang team up to make an offer for Fisker
If anybody can save Fisker, it might just be automotive superstar Bob Lutz – with help from a deep-pocketed Chinese firm. Reuters has reported that VL Automotive, a boutique automaker led by the plain-speaking former GM executive, together with the Wanxiang Group, China’s largest auto parts supplier, submitted an offer to buy the troubled automaker… Read more »
April plug-in sales: Model S grabs the lead, Volt and Prius drop back
Total plug-in vehicle sales in the US fell back a bit in April (7,239 units sold), after setting an all-time record in March (7,830). It’s starting to be a thrilling race, with the front-runners swapping places, new entrants getting ready to enter the track, and early favorites dropping out. The big news is Tesla, which… Read more »
Sarah Palin flays Fisker (well, okay) and trashes Tesla (what???)
It’s no surprise that the media has been having a field day with the story of Fisker Automotive’s apparently terminal troubles. “Pissing away taxpayer money on useless boondoggles” was one of the more charitable descriptions of the situation to be found over on the rightward side of the dial. Even more neutral observers noted the… Read more »
Fisker settles with A123 and lays off employees
The tragic milestones are passing one by one for Fisker Automotive, and we fear that the end may be near. Last week, the Wall Street Journal reported that Fisker had hired restructuring lawyers to help it prepare for a possible bankruptcy filing. Now the company has laid off most of its remaining employees –… Read more »
Fisker furloughs workers
Its production line idle since July, and its search for a suitor seemingly in limbo, Fisker Automotive put its US workforce of about 200 employees on furlough this week to cut costs.
Geely won’t bid for Fisker
China’s Zhejiang Geely Holding Group will not bid for a majority stake in Fisker Automotive, mainly due to the automaker’s obligations to the US government, Reuters reported, citing two confidential sources. Geely, the owner of Volvo, was expected to win the deal for the maker of the Karma, but the Chinese firm doesn’t care for… Read more »