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 »
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Fisker leaves Fisker
Just when you thought the news couldn’t get any worse for Fisker Automotive, co-founder and executive chairman Henrik Fisker announced today that he is leaving the company, effective immediately. “The main reasons for his resignation are several major disagreements that Henrik Fisker has with the Fisker Automotive executive management on the business strategy,” the company… Read more »
Fisker settles suit with insurance company – precursor to a sale?
The carmaker filed suit in December, after the insurer refused to cover the loss of 338 Karma sedans, worth about $33 million, that were destroyed in Superstorm Sandy.
Is Fisker finished, or can a suitor save it?
Fisker Automotive is in talks with several potential buyers and/or investors, and won’t be able to stay open without a deal, the Wall Street Journal reported.
Fisker’s Future: Tony Posawatz on moving the start-up ‘onward’
The feisty California start-up looks to break free of its growing pains and hit cruise control on the Atlantic.
December 2012: best month ever for plug-in vehicle sales
Even as the mainstream press continues to insist that no one is buying plug-in vehicles, December set a new monthly sales record, as the three market leaders continue to battle for the top spot, and a couple of new entrants posted impressive early results. The Chevrolet Volt rebounded from a weak November to sell 2,633… Read more »
Wanxiang wins A123 at auction
Chinese auto parts firm Wanxiang is the proud owner of battery maker A123 Systems, having won this week’s bankruptcy auction with a bid of between $250 million and $260 million, according to the Wall Street Journal. Other bidders included Johnson Controls, NEC and Siemens. Wanxiang will not be buying the segment of A123 that provides… Read more »
VIDEO: Fisker’s Posawatz talks about A123, the Atlantic and DOE loans
A former GM exec who’s now filling a very different role as the CEO of a California startup, Mr P has learned that fund-raising is a never-ending process.
Auction for assets of A123 begins in Chicago
Fisker was forced to temporarily shut down production of its Karma luxury sedan due to A123’s troubles, and is hoping for a quick resolution.
Batterymaker bankruptcy forces Fisker to pause production
Fisker CEO Tony Posawatz told the press this week that the company has been forced to shut down production of the Karma until it figures out where its next batteries are coming from.