Posts Tagged: Fisker Karma

Wanxiang bids for Fisker again in last-minute offer

The assets of bankrupt automaker Fisker Automotive are scheduled to be transferred to Hybrid Technology LLC, which bought the automaker’s outstanding $168 million DOE loan for $25 million in October. However, just days before a hearing in which a judge will decide whether to give final approval to the deal, Chinese auto parts giant Wanxiang… Read more »

Fisker finally files for bankruptcy, reveals creditors

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 »

The new A123 looks a lot like the old A123: Q&A with Jeff Kessen

Start-ups are tough. The majority of them do not succeed, particularly those built around new technologies in burgeoning industries. Nowhere is this more evident than in the EV industry. Even with political support and government grants, many companies have miscalculated the market and the capital required to make it into the black.  In October 2012,… Read more »

DOE to auction off Fisker loan

Got a plan to bring Fisker back to life? You’ve got a couple of weeks to put an offer together. The DOE has announced that it plans to conduct an auction for Fisker’s loan, which has a $168 million unpaid balance, on October 11. The deadline for submitting initial bids is October 7. “After exhausting… 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 »

Mr Fisker goes to Washington

There were few surprises at Thursday’s House hearing on failing carmaker Fisker Automotive. The title of the hearing, Green Energy Oversight: Examining the Department of Energy’s Bad Bet on Fisker Automotive, made it clear up front that Fisker and its DOE champions were in for a roasting. Five witnesses testified, including company co-founder Henrik Fisker,… Read more »