Fisker Karma News
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Think back to 2007, when the war on terror was in full swing, the housing bubble had yet to burst, and venture capitalists couldn’t get enough of green tech startups. And a small automotive company was founded in by automotive designer Henrik Fisker and his business partner Bernhard Koehler. From the start, Fisker Automotive had grandiose designs: to build and sell a luxury plug-in hyrbid sports sedan. But the car failed to gain the support of the EV crowd.
Fisker Automotive, the maker of a $100,000 sleek plug-in hybrid, might be moving toward bankruptcy, but the company still has a future. That’s the message conveyed by a former Fisker employee with knowledge about the company’s operations, in an exclusive interview with PluginCars.com. According to the source, media reports depicting Fisker Automotive at a permanent dead-end are based on unsubstantiated information about negotiations with China-based companies vying to buy the company. Stories were leaked in order to devalue the company and drive it into bankruptcy, so an acquiring company could get a better deal.
Geely and Dongfeng now appear to be the only two firms in the running to buy a majority stake in Fisker Automotive. Geely, the current frontrunner, also owns Volvo, which is working on its own plug-in hybrids. The deal would potentially put two prominent PHEV players under one roof, with both Fisker and Volvo eager to make more affordable plug-in hybrids.
With production now stopped for seven months, it's a relief to hear Fisker founder Henrik Fisker tell reporters at the Chicago Auto Show that production of the Karma will resume "fairly soon." Hopefully, that's soon enough for the struggling automaker as supply of the Karma is slowly dwindling down to next-to-nothing.
Fisker Automotive is facing a cash crunch. The company is turning to China to find the money it needs to survive. But so far it isn’t having much luck, according to my sources.
Tony Posawatz, CEO of plug-in electric vehicle maker Fisker Automotive, is a really cheerful guy. That was my impression when I interviewed him at the Los Angeles Auto Show during the media days. And that is admirable given that he heads a company that faces questions of survival. Fisker is nonetheless forging ahead with development of dealer networks in locations outside the United States.
As the Eastern United States began to survey the damage left by Superstorm Sandy yesterday evening, reports emerged that 16 Fisker Karmas had been destroyed in the storm. Most of the cars were been burned to the point of being virtually unrecognizable.
After five weeks at the helm, Fisker Automotive chief executive officer Tony Posawatz states the obvious: that the luxury plug-in automaker has a lengthy "to-do" list. What's on the list? Strategic partnerships, the establishment of a vehicle lease program, improving Fisker's relationship with its 80 dealerships, improving quality...