Tag Archives: FiskerAutomotive

Department of Energy seizes $21 million reserve account from Fisker

Posted on by

Department of Energy seizes $21 million reserve account from Fisker

Fisker just can't catch a break. As if enduring the layoffs of three out of every four employees and the resignation of its founder wasn't unsettling enough, it's now come to light that the Department of Energy recently confiscated the company's $21 million reserve account in an attempt to recoup some of the government's loan. Fisker's first payment on the $192 million federal loan was due Monday, but the Energy Department revealed that it actually took the money 12 days beforehand, simply due to the company's high risk of default -- a move it characterized as an "appropriate action on behalf of taxpayers." If you're thinking the writing's now on the wall, you're correct... the WSJ reports that Fisker has hired a bankruptcy attorney, and the company admits that it's actively in search of a new owner. Will luck swing in Fisker's favor next time around? Place your bets.

Filed under:

Comments

Via: TNW

Source: WSJ

Fisker announces steep layoffs, cuts company down to 25 percent of its workforce

Posted on by

Fisker Automotive has been seeing its troubles go from bad to worse, and its now announced its most drastic steps yet to keep the company afloat. In a statement released this afternoon, the company confirmed that it is making a "significant reduction" in its workforce, which it says will ultimately leave it with approximately 25 percent of its employees -- Bloomberg pegs the number of layoffs at about 160 based on its sources, down from the 200 it employed as of last week. Fisker's statement also notes that the company is continuing its efforts to secure a strategic alliance or partnership, but says it had reached the point where layoffs became unavoidable. As Bloomberg mentions in its report, Fisker has to date only sold 2,500 of its electric vehicles, which have been beset by delays and recalls in recent years.

Filed under:

Comments

Source: Bloomberg, Autoblog

Fisker founder resigns over ‘major disagreements’ with management

Posted on by

Fisker founder resigns over 'major disagreements' with management

Fisker Automotive founder Henrik Fisker has resigned from his post as the firm's executive chairman. An email said to be sent by Henrik cites several unspecified "major disagreements" with the company's executive management on business strategy as the primary reason for abandoning ship. Reports suggest the decision was sparked by the firm's purported consideration of selling a majority stake to China's Geely Automobile, which would put much-needed cash in its coffers. For its part, the company says that it's strategy hasn't changed, and that it doesn't expect its namesake's departure to have an impact.

Filed under:

Comments

Via: Forbes, Reuters

Source: Fisker Automotive

A123 Systems becomes America’s latest EV battery maker to file for bankruptcy

Posted on by

A123 Systems becomes America's latest EV battery maker to file for bankruptcy

Having been riddled with setbacks, including a major recall of faulty batteries supplied to Fisker Automotive, Michigan's favorite EV battery maker A123 Systems has filed for bankruptcy. It has also announced the sale of its main business units to rival Johnson Controls in a deal pegged at $125 million -- a sad fraction of the billion dollars it raised since it launched in 2001 (not least from government grants). It seems that neither fresh lithium ion innovations nor a potential deal with Chinese investors were able to keep the company out of the red, which leaves A123 on the road to nowhere -- right behind that other DoE-sponsored hopeful, Ener1.

Continue reading A123 Systems becomes America's latest EV battery maker to file for bankruptcy

Filed under:

A123 Systems becomes America's latest EV battery maker to file for bankruptcy originally appeared on Engadget on Wed, 17 Oct 2012 06:22:00 EDT. Please see our terms for use of feeds.

Permalink Technology Review India, The New York Times  |  sourceA123 Systems  | Email this | Comments

Fisker confirms Q&A outlining Karma woes and fixes, may establish council to talk issues in person

Posted on by

Fisker Karma mountain drive

Fisker has had more than its fair share of teething troubles with the Karma, but it has to be given credit for going out of its way to listen to early adopters. The hybrid car builder has confirmed to Autoblog that a question and answer session making the rounds is the official result of town hall discussions that have both acknowledged problems and promised fixes where they're possible. The answers we've been given are a mix of sober realities and practical remedies. Drivers hoping for outright hardware upgrades to improve performance with existing Karmas will have to keep wishing; thankfully, a host of firmware fixes are on the way to improve at least the sedan's Command Center system and mirrors. PR lead Roger Ormisher even hints that there could be an in-person council that would tackle concerns more directly than the remote pep talks. We're mostly hoping for the day when Fisker stamps out the bugs and doesn't need the Q&A to put Karma owners' minds at ease.

Filed under:

Fisker confirms Q&A outlining Karma woes and fixes, may establish council to talk issues in person originally appeared on Engadget on Fri, 24 Aug 2012 06:29:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceAutoblog  | Email this | Comments

Fisker halting Surf production, but will build you one if you’ve got a ‘big enough checkbook’

Posted on by

Fisker halting Surf production, but will build you one if you've got a 'big enough checkbook'

Like the ambitious diner at the all-you-can-eat-buffet, Fisker's got a lot on its plate. Between recalling all of its self-immolating Karma models, taking flack from its rivals and hiring a new CEO, something had to give. As such, it's halted production on the Surf and Sunset while it concentrates on getting the Nina / Atlantic onto the streets. However, one-percenters needing a five-door EV are in luck -- Fisker's Roger Ormisher has said that "if someone came along with a big enough checkbook" they'd discuss building a model tailored to their needs. While he remained coy about a specific price in his statement to Autoblog (after the break), a Fisker Buzz member has pegged the figure to be $200,000 -- but hey, that's pocket change to you, right?

Continue reading Fisker halting Surf production, but will build you one if you've got a 'big enough checkbook'

Filed under:

Fisker halting Surf production, but will build you one if you've got a 'big enough checkbook' originally appeared on Engadget on Wed, 22 Aug 2012 14:51:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceAutoblog Green, Fisker Buzz  | Email this | Comments

Fisker’s Project Nina exposed ahead of New York Auto Show debut

Posted on by
Fisker's Project Nina exposed ahead of New York Auto Show debut
An unreleased gadget is pretty easy to conceal, but an upcoming automobile? Not so much. Thanks to some quick reflexes, you're looking at the first spy shots of Fisker's second and smaller plug-in hybrid sedan, heretofore known as Project Nina. Last we heard, the BMW-powered auto had been put on life-support, as the remainder of the company's DOE loan evaporated as it failed to meet timely deadlines in bringing its first EV, the Karma, to market. That could mean the above is a mere concept designed to woo potential investors -- but with less than a week before its supposed New York auto show debut, it won't be long until we know for sure. Until then, ogle at more eye candy of the beaut over at Autoblog in the source link below.

Fisker's Project Nina exposed ahead of New York Auto Show debut originally appeared on Engadget on Fri, 30 Mar 2012 10:13:00 EDT. Please see our terms for use of feeds.

Permalink   |  sourceAutoblog  | Email this | Comments