Posts Tagged ‘fisker automotive fisker karma’

Major Layoffs at Fisker – Will Bankruptcy Follow?

Sources point to key investors for shake-up.

by on Apr.05, 2013

Don't expect to see the Fisker Atlantic get into production unless a White Knight emerges for the troubled battery-car maker.

Barely a week after U.S. employees were put on a 5-day unpaid furlough, troubled Fisker Automotive has apparently given termination notices to as much as half or more of its staff – including its entire communications department, several well-placed sources have told TheDetroitBureau.com.

While the latest move appears to be part of a desperate move to conserve dwindling cash resources while searching for new investors or a complete outside acquisition, the situation could be even more dire.

The Last Word!

“I would not be surprised to see this leading up to the possibility of a bankruptcy filing,” cautioned an extremely well-connected source with long connections to the battery-car maker. Other Fisker sources said such a move would come as no surprise to them, either.

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Fisker Talking to “Multiple Interested Partners”

by on Feb.08, 2013

A prototype of the Fisker Atlantic. Its production date likely will depend upon current negotiations with potential partners.

Battery-car start-up Fisker Automotive has entered a critical stage in its short life, the plug-in hybrid maker working feverishly to firm up an alliance strategy that could team it up with one or more well-funded partners – and, in the process, allow it to move ahead with the launch of its second product line.

In the meantime, Fisker also is working to restart production of its original model, the Karma, something that is dependent upon negotiations with battery supplier A123 which recently emerged from bankruptcy under new ownership.

Your Inside Source!

“We have multiple interested partners” that the company is talking to, said Fisker Automotive’s eponymous founder and Chairman Henrik Fisker, following a speech at the Chicago Auto Show.

Company spokesman Roger Ormisher subsequently told TheDetroitBureau.com that the “multiple partners” talking to Fisker are located “across three Continents,” though the maker is declining to reveal specific names.

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Troubled Fisker Automotive Seeking Partner

Plug-in maker aims to cut costs, bring more cars to market.

by on Nov.30, 2012

Henrik Fisker with one of the first Karma plug-in hybrids.

Hoping to overcome a string of setbacks and get its product program back on track, battery-car start-up Fisker Automotive is quietly looking to line up a better financed partner.

There are no plans to sell the company, stressed founder and Chairman Henrik Fisker, but it appears the firm has recognized it will be difficult to go it completely alone, especially after having the Department of Energy freeze a low-interest loan that was supposed to help bring the maker’s second product, the Fisker Atlantic plug-in hybrid to market.

Voice of the Automotive World!

Fisker has run into a series of setbacks this year, there were two recalls — including one involving a fire caused by a battery cooling fan — product delays, management shake-ups and the loss of its DoE loan. While its first product, the Fisker Karma, has won kudos from some reviewers, it has been harshly criticized by others, notably including the influential Consumer Reports magazine.

Acknowledging it’s been a tough year, Henrik Fisker told TheDetroitBureau.com in an exclusive interview that, “We’re actively engaged in conversations with potential strategic partners.”

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