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 »
Posts Tagged: Fisker Karma
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 »
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.
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 »
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 »
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.
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.
The feisty California start-up looks to break free of its growing pains and hit cruise control on the Atlantic.
"All or virtually all of the vehicles [destroyed] were subject to a safety recall requiring the replacement of cooling fans before they could be distributed lawfully to retail dealerships."
Fisker filed suit against the insurer in the New York Supreme Court on Friday, saying that the ruined Karmas, worth about $33 million.